By Uthman Salami Global oil prices have reacted to EU, US and Allies proposal to sanction crude from Russian over the latter’s unprovoked war and subsequent invasion of Ukraine. Earlier, the United State had had confirmed being talks with European…
Crude oil retreated on yesterday afternoon as U.S. President Joe Biden prepared yet another round of sanctions on Russia in order to punish Russia for its earlier attack on Ukraine. In a White House presser, President Joe Biden recapped existing…
Oil prices dropped on Friday after major positive records during the week. The situation was influenced by prospect of extra supply from Iran returning to the market which outweighed fears of a possible Russian invasion of Ukraine, that could disrupt supply.…
The International Monetary Fund (IMF) said Nigerian economy is recovering from a historic downturn benefitting from government policy support, rising oil prices, and international financial assistance, said. As a result of the recent economic developments in the country, the global financial institution…
Oil prices fell on Thursday as the U.S. dollar strengthened following signs that the Federal Reserve will tighten monetary policy soon in the world’s biggest oil user. Futures pulled back amid a broader decline in financial markets after the Fed…
Oil prices climbed on Tuesday after two days of losses, with some risk appetite returning as the market awaited clues from the U. S Federal Reserve chairman on potential rate rises and as some oil producers continued to struggle to…
Oil prices rose on Tuesday as investors expected the Organisation of Petroleum Exporting Countries, OPEC+ producers meeting on output to stick with their planned increase for February based on indications Omicron would have only a mild impact on demand. Brent…
Saudi Arabia could cut the official selling price for oil to Asian buyers in February after raising them substantially this month. According to a report citing industry insiders and poll data, the Kingdom could slash the prices for all its…
Nigeria’s production disruptions as well as in two other countries have caused supply hiccups in the oil market prompting prices to extend gains on Tuesday. Brent crude traded near $80 a barrel despite the rapid spread of the Omicron coronavirus…
Crude oil prices took a dive on Monday morning with WTI crashing 6% on the day as fresh Omicron fears spooked the market. At 11:32 a.m. EDT, WTI crude was trading at $66.44, down $4.42 (-6.24%) on the day, with Brent crude trading…
