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West Africa Crude-Nigeria cuts prices, March programmes start to be issued LONDON: Nigeria cut the official selling price (OSP) of its largest crude stream Qua Iboe and other grades, reflecting poor demand for light, sweet crude amid a global glut. The February OSP for Qua was cut to dated Brent plus 33 cents. That would be the lowest traded premium since 2005 according to Reuters data, although dealers said they had not seen cargoes trade at as low as the OSP.Nigerian crude is in ample supply. Around 10 February-loading Nigerian cargoes are still available, according to traders, as the March loading programmes started to be issued on Thursday. Angola issued its March programme earlier this week and plans 1.8 million barrels a day of exports on 58 vessels, compared with 53 ships in the revised February programme. Copyright Reuters, 2015 ...

Med Crude: Urals swaps point lower, CPC bid higher LONDON: Russia's Urals crude held firm in light physical trade on Thursday but swaps continued to point to a weakening of differentials in February, with a larger loading programme for that month applying pressure, especially in the Baltic. No deals were done in the Platts price assessment window, leaving differentials around -$1.65 a barrel versus dated Brent in the Baltic for spot cargoes and -$1.30 in the Mediterranean. Swaps in the Baltic for February are ...
Oil drops below $49 after ECB announces bond buying LONDON: Brent crude oil fell below $49 a barrel on Thursday after the European Central Bank said it would start buying government bonds, a move which could push the dollar to new highs and put downward pressure on commodities.Exceeding market expectations, ECB President Mario Draghi said the bank would buy 60 billion euros ($69 billion) of government bonds a month until the end of September 2016 to support the flagging euro zone economy.Brent crude futures ...
Oil prices rise before ECB meeting, US supply report LONDON: Oil prices rose Thursday as dealers awaited a much-anticipated European Central Bank (ECB) policy meeting and the release of the latest US supply report, analysts said. US benchmark West Texas Intermediate for delivery in March climbed eight cents to $47.86 a barrel.Brent North Sea crude for March won 37 cents to $49.40 a barrel. Expectations are high that the Thursday meeting of the ECB will see it unveil a programme of asset-purchasing, or quantitative ...
Oil prices slip ahead of ECB bond buying decision LONDON: Brent crude oil dipped towards $48 a barrel on Thursday ahead of an expected decision by the European Central Bank (ECB) to start buying bonds, a move which could push the dollar to new highs and put downward pressure on commodities.The ECB's Executive Board has proposed a programme that would allow it to buy 50 billion euros ($58 billion) of bonds a month starting in March, a euro zone source said. The expected stimulus ...
Oil prices above $49 ahead of ECB bond buying move LONDON: Brent crude oil crept above $49 a barrel on Thursday ahead of an expected decision by the European Central Bank (ECB) to start buying bonds, a move which could push the dollar to new highs and put downward pressure on commodities.The ECB's Executive Board has proposed a programme that would allow it to buy 50 billion euros ($58 billion) of bonds a month starting in March, a euro zone source said. The expected stimulus ...
Oil under pressure as IMF cuts global growth forecast LONDON: Oil diverged Tuesday, remaining under pressure as the International Monetary Fund slashed its world economic growth forecast and stoked demand fears.In London deals, Brent North Sea crude for delivery in March added two cents to $48.86 a barrel. US benchmark West Texas Intermediate for February dipped $1.28 to trade at $47.85 per barrel."Crude oil prices remain under heavy pressure with WTI front month futures retreating ... following news that the IMF cut its global ...

 



 
Index Closing Chg%
Arrow DJIA 17,191.37 1.13
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Arrow FTSE 6,825.94 0.21
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ICT 2014


Annual2013/14
Foreign Debt $61.805bn
Per Cap Income $1,386
GDP Growth 4.14%
Average CPI 8.6%
MonthlyNovember
Trade Balance $-1.664 bln
Exports $1.966 bln
Imports $3.630 bln
WeeklyJanuary 25, 2015
Reserves $15.019 bln