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Oil prices drop as Saudis keep pumps running LONDON: Oil prices fell on Tuesday as a global supply glut and soft demand overshadowed the impact of geopolitical tensions in the crude-rich Middle East, analysts said.US benchmark West Texas Intermediate (WTI) for delivery in June slid 43 cents to $59 a barrel.Brent North Sea crude for July shed 63 cents to stand at $65.64 a barrel in London afternoon deals."According to official data... Saudi Arabia exported just shy of eight million barrels of crude oil per day in March -- the highest export volume in more than nine years," said analysts at Commerzbank in a note to clients on Tuesday.Bernard Aw, market strategist at IG Markets Singapore, said "global oversupply with weak demand" continues to put a cap on prices despite geopolitical unrest raising concerns about a disruption in the Middle East.He said the crude market is already "used to" unrest in the region, where Islamic State fighters on ...

Oil prices slip on dollar rally, ample supply LONDON: Brent crude oil fell below $66 a barrel on Tuesday as the dollar strengthened and on evidence of ample supplies of Middle Eastern oil despite wars in northern Iraq, Syria and Yemen.The dollar rose to almost a one-week high against a basket of currencies, recovering from a four-month low and making oil and other commodities more expensive to consumers in non-dollar economies.Crude rallied on Monday on worries that Middle Eastern oil supplies could be ...
Oil prices retreat after early gains LONDON: Oil prices fell on Monday as high production levels offset worries about the risk of Middle East supply disruptions, according to traders.US benchmark West Texas Intermediate for delivery in June fell 10 cents to $59.59 a barrel after gaining earlier in the day as tensions in Yemen and Iraq raised concerns about a supply disruption in the crude-rich Middle East.Brent North Sea crude for July delivery dropped 53 cents to stand at $66.28 a ...
Oil slips as ample supply outlook offsets Mideast turmoil LONDON: Brent crude oil prices declined on Monday after Goldman Sachs slashed its forecasts on a persistently high supply outlook, offsetting fears over deepening violence in the Middle East.A major advance by Islamic State militants in Iraq and renewed air strikes by a Saudi-led coalition against Houthi militia in Yemen heightened concerns that turmoil could impact Middle East oil production.Analysts nevertheless said oil markets remained oversupplied, and that the glut could worsen if U.S. production ...
Oil prices higher on Middle East unrest LONDON: Oil prices rose on Monday as fresh tensions in Yemen and Iraq raised concerns about a supply disruption in the crude-rich Middle East, analysts said.US benchmark West Texas Intermediate for delivery in June gained 53 cents to $60.22 a barrel compared with Friday's close.Brent North Sea crude for July climbed 20 cents to stand at $67.01 in London midday deals. Saudi Arabia-led coalition air strikes resumed against rebel positions in Yemen's south after a ...
Oil holds as Mideast turmoil offsets ample supply outlook LONDON: Oil prices firmed on Monday after a major advance by Islamic State militants in Iraq.Islamic State overran the western city of Ramadi in the biggest defeat for the Baghdad government since last summer.Front-month Brent futures were up 7 cents at $66.88 a barrel by 1050 GMT after earlier climbing earlier to $67.88 a barrel. U.S. crude rose 42 cents to $60.11 a barrel."The fact that Islamic State can still carry out major operations even ...
Oil falls below $66 as global glut builds LONDON: Brent crude oil fell below $66 a barrel on Friday after reports that a growing supply glut was boosting inventories worldwide. Oil futures have rallied strongly since January after collapsing last year but analysts say the rebound may have overshot and could be about to correct. Although the US oil market is becoming more balanced, production elsewhere is still running well ahead of consumption. "A mood change is in the air," Eugen Weinberg, global ...

 



 
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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%
MonthlyMay
Trade Balance $-1.894 bln
Exports $1.953 bln
Imports $3.847 bln
WeeklyJuly 06, 2015
Reserves $18.201 bln