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Oil prices rebound LONDON: Oil prices rebounded Thursday after a sharp decline the day before as traders tried to get a handle on the full implications of Iran's landmark nuclear accord.US benchmark West Texas Intermediate for delivery in August rose 34 cents to $51.75 a barrel compared with Wednesday's close.Brent North Sea crude for August delivery advanced 78 cents to $57.83 a barrel. Both contracts had slid more than $1.50 on Wednesday.Daniel Ang, an investment analyst with Phillip Futures, said the market was "still trying to grasp" the impact of the Iranian deal.The agreement checks Iran's nuclear programme in exchange for the lifting of economic sanctions, allowing Tehran to ramp up crude exports, which have been halved by the restrictions.Analysts have said that the return of Iranian oil to an already oversupplied global market will not be immediate, and that the earliest it could happen would be next year.Copyright AFP (Agence France-Presse), 2015 ...

Oil prices rise as stock draw balances supply LONDON: Oil prices rose on Thursday after data showed U.S. crude inventories dropped and refinery demand was robust despite ample supply in the global oil market.U.S. crude inventories fell by 4.3 million barrels last week, according to the Energy Information Administration (EIA), as refineries boosted throughput to a record level.The data suggested demand in the United States, the world's biggest oil consumer, was holding up well and still absorbing fuel at a time of ample ...
Oil falls on prospect of higher Iranian exports LONDON: Oil prices fell on Wednesday as investors digested the likely impact of increasing Iranian fuel exports at a time of heavy oversupply.A milestone nuclear deal reached on Tuesday between six world powers and Iran will mean sanctions that have limited sales of Iranian oil for several years are likely to be lifted in early 2016.An official at the National Iranian Oil Company said on Wednesday that Iran's oil production could increase by 500,000-600,000 barrels ...
Low oil price domino effect to shut more North Sea fields early LONDON: Low oil prices have tightened the screws on some of the most depleted and costly oilfields in Britain's North Sea, forcing operators to cease production earlier than planned and adding to fears of a domino effect in mature areas.For years North Sea producers have delayed expensive decommissioning projects, supported by high oil prices that have helped paper over soaring operating costs. But with oil prices halving over the last 12 months, some companies are ...
Shell says keen to explore ways to do business in Iran LONDON: Oil major Shell said it was interested in doing business in Iran and was engaging with relevant governments to understand the impact of a nuclear deal reached between six major world powers and Iran. "Strictly within the boundaries of the law, we are interested in exploring the role Shell can play in developing Iran's energy potential," a spokeswoman said. Iran and six major world powers reached a nuclear deal on Tuesday, capping more than ...
Oil prices steady awaiting Iran deal LONDON: Oil prices were stable Monday as markets waited to see whether Iran and western powers would agree a landmark deal that would lift sanctions on Tehran and lift crude exports.US benchmark West Texas Intermediate for August delivery was up 13 cents at $52.87 barrel compared with Friday's close.Brent North Sea crude for August slipped 22 cents to stand at $58.51 a barrel in late London deals.Despite earlier optimism, there is little possibility that Iran ...
Oil rises to $57 as Iran talks drag on LONDON: Brent oil bounced back from a three-month low to around $57 a barrel on Wednesday after an industry report showed a larger-than-forecast drop in US crude stocks and Iran nuclear talks failed to produce a deal.Oil had come under downward pressure as a plunge in China's stock market accelerated and the Greek debt crisis raised concern about fuel demand. Talks in Vienna between Iran and six world powers dragged on beyond a self-imposed deadline ...

 



 
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Banking Review 2014


Annual2013/14
Foreign Debt $61.805bn
Per Cap Income $1,386
GDP Growth 4.14%
Average CPI 8.6%
MonthlyJune
Trade Balance $-2.378 bln
Exports $2.016 bln
Imports $4.394 bln
WeeklyJuly 23, 2015
Reserves $18.677 bln