…Petrol prices to rise across Nigeria due to NNPC’s cost-reflective scheme Oil prices surged by more than a dollar in early trading yesterday amid growing concerns that escalating tensions in the Middle East could disrupt crude production, following Iran’s most…
Oil prices dropped again for a second day on Tuesday, as talks for a ceasefire in Gaza continued, but losses were limited to less than a dollar a barrel as Egyptian and Qatari mediators met resistance in their search to…
Oil prices on Tuesday appreciated by 2 percent as the Middle East crisis and a Libyan supply outage pared the previous day’s heavy losses. Brent crude futures settled $1.47, or 1.9 percent, higher at $77.59 a barrel, while U.S. West…
With so much expectations from investors for the OPEC+ meeting holding today, Oil prices rose more than $1 a barrel on Wednesday as investors focused their attention on expectations of fresh supply cuts from OPEC+ and looked past a jump…
By Sodiq Adelakun External reserves have risen by 0.21 percent in the last three weeks, following increased oil production and prices. The price of Brent crude stood at $88.41 as of October 25, 2023. Data from the Central Bank of…
Based on figures obtained from the Central Bank of Nigeria’s (CBN) data on the movement of external reserves, the country’s external reserves fell by US$2.96bn in H1 2023. The figures show that external reserves fell to US$34.12bn as of 30…
…as Chinese refiners seek cheaper alternatives from Nigeria, Russia The announce ment of crude oil output cut of around 800,000 bpd by Organization of the Petroleum Exporting Countries (OPEC) and its allies -OPEC+, has failed to yield its expected result,…
Oil prices gained marginally as the world’s top crude oil exporter, Saudi Arabia, on Thursday, cut the prices of all its crude grades loading for Asia in February to the lowest level to regional benchmarks in over a year, as…
IMF Managing Director said the global economy faces “a tough year, tougher than the year we leave behind.” Oil prices fell on the first trading of the year on demand concerns as the International Monetary Fund’s boss Kristalina Georgieva, warned…
Oil prices pared some losses on Monday, with Brent gaining nearly two per cent as a nuclear deal with Iran seemed to fade further away and markets refocused on Europe’s coming ban on Russian oil and tight supply fears. At…
