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Oil falls below $72 after sharp rally in volatile market LONDON: Brent oil fell below $72 a barrel on Tuesday, giving up some of its gains in Monday's sharp rally from five-year lows, as traders were uncertain over whether the market had reached a floor or would continue to fall."I am not surprised the price is going down. The market is looking for a renewed sense of direction and trying to figure out if we have hit the bottom or if we are about to go lower again," said Michael Hewson, an analyst at CMC Markets in London."I think there is a lot of ebb and flow, and at the moment there is a battle going on between the bulls and the bears in light of the really strong rally we saw yesterday."Brent was down 90 cents at $71.64 by 1120 GMT, after jumping 3.4 percent on Monday. U.S. crude was down $1.05 at $67.95 a barrel.Oil has fallen since ...

Oil producers in Iraqi Kurdistan paid for exports LONDON: Oil producers including Genel and Gulf Keystone Petroleum, have received initial payments for oil exports from the Kurdistan Regional Government (KRG), paving the way for more steady oil revenues for producers in Iraqi Kurdistan. Genel said on Tuesday the partners operating the Taq Taq oil field had received an initial gross payment of $30 million from the KRG for oil exported via the KRI-Turkey pipeline. Partners in the Tawke oil field, majority owned by ...
Oil hits five year low, hammering rouble LONDON: Oil prices hit five-year lows on Monday as slowing factory activity in China and Europe added to the impact of OPEC's decision to maintain supply, hammering resource-linked stocks and currencies.Russia's rouble was down 8 percent from Friday's Moscow close, though its losses were almost halved after what traders said may have been intervention by the central bank. The rouble remained on track for its steepest one-day fall since 1998, when a financial crisis led ...
Oil rises after hitting five-year low LONDON: Brent crude oil rose on Monday to above $71 a barrel, recovering from a five-year low it hit earlier as investors looked for a price floor after last week's OPEC decision not to cut production.U.S. crude and Brent have fallen for five months in a row, oil's longest losing streak since the 2008 financial crisis.Brent hit a low of $67.53 a barrel, the lowest since October 2009, before rising 85 cents to $71.00 a ...
UK gas prompt prices fall as supply outstrips demand LONDON: Prompt natural gas prices in Britain fell on Monday morning as higher flows from the UK Continental Shelf (UKCS) and the Netherlands contributed to an oversupplied system.Prices for within-day delivery were trading at 57.20 pence per therm at 0856 GMT, down 1.20 pence from their last settlement. Prices for delivery on Tuesday were down 0.55 pence at 57.35 pence per therm.With supply flows at about 283 million cubic metres (mcm) on Monday and demand ...
Oil hits five-year low in longest losing streak since 2008 LONDON: Brent crude oil fell more than $2 a barrel to a five-year low below $68 on Monday as investors looked for a price floor after last week's OPEC decision not to cut production.Both U.S. crude and Brent have fallen for five straight months, oil's longest losing streak since the 2008 financial crisis."The market is still very much in panic mode," said Energy Aspects' chief oil analyst Amrita Sen. "Once we get over the panic, ...
Oil hits five-year low, floor unsure LONDON: Brent crude oil fell on Monday to a five-year low below $68 on Monday before recovering some of the losses as investors looked for a price floor after last week's OPEC decision not to cut production.Both U.S. crude and Brent have fallen for five straight months, oil's longest losing streak since the 2008 financial crisis."The market is still very much in panic mode," said Energy Aspects' chief oil analyst Amrita Sen. "Once we get ...

 



 
Index Closing Chg%
Arrow DJIA 16,528.03 0.69
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Arrow S&P 1,927.18 0.84
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Arrow DAX 10,259.46 0.38
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Banking Review 2014


Annual2013/14
Foreign Debt $62.649bn
Per Cap Income $1,512
GDP Growth 4.24%
Average CPI 8.6%
MonthlyJune
Trade Balance $-2.378 bln
Exports $2.016 bln
Imports $4.394 bln
WeeklyAugust 27, 2015
Reserves $18.509 bln