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…
By Uthman Salami Oil prices are set to exceed $100 per barrel in all three scenarios for global energy developments through 2050, with inflation and carbon prices potentially sending oil to $380 a barrel in 2050. This revelation was made by Russia’s oil producer,…
Oil prices had a rebound later on Wednesday after dropping earlier in the day after the Energy Information Administration (EIA) reported a surprise crude oil draw. Brent crude was up by 0.76% to trade at $85.73 per barrel, the WTI was up…
For the second time this week, Oil prices surge yesterday, gathering momentum from its earlier downward trend. This new trend is caused by falling temperatures in China, the world’s biggest energy consumer as spike concerns about its ability to meet…
Oil prices hit their highest level in years yesterday as demand recovers from the COVID-19 pandemic, boosted by more custom from power generators turning away from expensive gas and coal to fuel oil and diesel. Consequently. Brent crude oil futures…
Oil prices surged again on Monday, extending multiweek gains as an energy crisis gripping major economies shows no sign of easing amid a pickup in economic activity and restrained supplies from major producers. Brent crude was up $1.20 cents, or 1.5 per…
Nigerian states including local governments might face financial difficulties in the coming months as the rise in oil prices means a larger chunk of oil revenue will have to go into subsidy payment. According to data from oil price, on…
By Uthman Salami The Organization of Petroleum Exporting Countries, OPEC+ is working to keep prices around $70 per barrel. Oil Prices have been uptick in the last few days, but Iraq’s oil minister, Ihsan Abdul Jabbar Ismail as confirmed latest measures. The…
Oil prices slowed yesterday, but it, however, kept most of the previous day’s gains after a larger-than-expected drawdown in crude oil stocks in the United States, the world’s largest oil consumer. Brent crude oil fell 13 cents, or 0.2 per…
Since global oil prices began to suffer from the latter end of 2015, the impacts on the Nigerian economy (which almost has all its eggs in one basket) have seen conditions of its profile enmeshed in the mire of colossal…
