Tag
GLOBAL CRUDE OIL PRICES
Global crude oil prices, as tracked by Brent futures, have fallen sharply below $67 per barrel, down from a monthly high of $77.08 on June 19, as concerns over a major supply disruption eased.
There are fears that the naira may go through another round of devaluation as the global crude oil prices, which have remained low due to the tariff war initiated by the US President, Donald Trump, put pressure on Nigeria’s 2025 budget.
Brent Crude lost about 0.62% to trade at $42.94 a barrel, at 6.05 am Nigerian time.
It saw steep monthly gains due to falling global crude oil production and expectations for demand growth around the world.
Local media reports citing a recent report by NNPC say the federal government paid N752bn as a petrol subsidy in 2019.
The recovery of crude oil prices from last month’s unprecedented crash seems to be moving swiftly, as more...
Oil prices dropped today, based on signals that global oil storage ability is getting filled up, oil production cuts will not meet up.
Market sentiments are divided on where oil prices would head in the short term based on new activities taking place.
Nigerian banks claim they have protected themselves against a potential loan crisis in the oil and gas sector. But is it enough?
U.S. crude rose on Tuesday morning, but a historic fall in its May contract, which plunged below zero, raised concerns among investors
So what was agreed? Here is the break down of the cuts and the timelines;
The global spread of COVID-19 and fear of another surge later in the year could limit travel plans for dollar-hungry Nigerians, easing pressure on the already troubled naira.