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Oil surges on Yemen air strikes, stocks tumble LONDON: Crude prices rose as much as 6 percent on Thursday after Saudi Arabia and its allies launched air strikes on Yemen, pushing shares lower in Europe, the Middle East and Asia and lifting oil producers' currencies.The military operations, including air strikes, targeted Iran-backed Houthi rebels besieging the southern Yemen city of Aden. Arab producers ship oil via the Gulf of Aden and Suez Canal to Europe.The escalating tensions in the Middle East pushed the price of Brent crude up more than $3 a barrel to close to $60, a 2 1/2-week high. It last traded at $59.17, up 4.7 percent."Oil is having a nice move after more geopolitical tensions in the Middle East over Yemen. Saudi has intervened via a military operation but, to be clear, (it) has at the moment led to no disruptions in oil supply," said Atif Latif, director of trading at Guardian Stockbrokers in London.A ...

Oil prices surge after Saudi air strikes in Yemen LONDON: Brent crude oil soared more than 4 percent towards $59 a barrel on Thursday after Saudi Arabia and its Gulf Arab allies began a military operation in Yemen, which sits on a key shipping passage between Europe and the Arab Gulf.The air strikes against Houthi rebels, who have driven the president from Yemen's capital Sanaa, could stoke concerns about the security of Middle East oil shipments.Brent futures were up $2.32 at $58.80 by 1120 ...
WEST Africa Crude-Angolan loadings rise further in May LONDON: Angolan crude oil loadings look more ample in May, adding to a well supplied market and potentially weighing on differentials, traders said on Wednesday. The loading programme for Saturno crude emerged on Wednesday after being delayed, bringing total exports in May to about 1.80 million barrels per day, up from April. "Refining margins look good on paper, but maintenance is taking a bit of demand away," said a trader. Some Angolan grades have sold ...
Oil prices rise despite jump in US stockpiles LONDON: World oil prices advanced Wednesday despite news of a stronger-than-expected increase in crude inventories in the United States, analysts said.US benchmark West Texas Intermediate for delivery in May rose 86 cents to $48.37 a barrel compared with Tuesday's close.Brent North Sea crude for May added 87 cents to $55.98 in London late afternoon deals.The US government's Department of Energy (DoE) announced that commercial crude reserves rallied 8.2 million barrels in the week to March ...
Brent oil rises as euro gains against dollar LONDON: Brent oil prices rose on Wednesday as the euro strengthened against the dollar following a boost in business morale in the euro zone's top two economies.The euro was up 0.6 percent against the dollar, the currency in which crude oil futures trade. The dollar lost 0.5 percent against a basket of currencies, making dollar-traded commodities more attractive for holders of other currencies.Brent crude oil was up 74 cents at $55.85 a barrel by 1236 ...
Brent oil pares gains on record high US inventory LONDON: Brent oil prices pared gains sharply on Wednesday after data showed U.S. crude stocks jumped to a new record last week, overshadowing weakness in the dollar.The U.S. Energy Information Administration said U.S. crude stocks jumped by 8.2 million barrels in the week to Friday, the highest in at least 80 years and surpassing expectations of a 5.1 million barrel build.Crude stocks at Cushing, Oklahoma, delivery point of the U.S. crude contract rose by 1.9 ...
Oil steadies above $55 as US, Chinese stocks fill LONDON: Brent crude oil steadied above $55 a barrel on Wednesday, not far above the week's lows, as more evidence emerged of global oversupply that has filled fuel storage tanks around the world.U.S. crude oil inventories rose by 4.8 million barrels in the week to March 20, data from the American Petroleum Institute (API) showed on Tuesday, pushing total U.S. crude oil stockpiles to record highs above 450 million barrels.Chinese crude oil stocks are also ...

 



 
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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%
MonthlyMarch
Trade Balance $-1.586 bln
Exports $1.932 bln
Imports $3.518 bln
WeeklyApril 16, 2015
Reserves $16.818 bln