Crude oil prices rallied higher at the first trading session of the week boosted by the growing hopes for fuel demand recovery in the second half of this year and curbs in oil production from major producers. Oil traders are currently excited, that the COVID-19 weekly death toll in the world’s largest economy has dropped […]
Monday 8th March 2021: The exchange rate between the naira and the US Dollar closed at N411.88/$1 at the Investors and Exporters window Naira depreciated yet again to a record low of N411.88/$1 on Monday 8th March 2021 at the NAFEX window, representing a 0.21% decline when compared to N411/$1 recorded on the previous trading
Crude oil prices dipped due to oil traders being jittery over rising global cases of COVID-19, despite hopes of effective vaccines. Crude oil prices dropped at the first trading session of the week. The plunge is largely attributed to the continual rise in COVID-19 cases globally, as oil traders got jittery on the bias that
Oil prices fall, Oil traders edgy on rising COVID-19 casesRead More »
Crude oil prices recorded impressive gains amid high hopes that leading oil producers will suspend plans on increasing oil supply. Crude oil prices recorded impressive gains in barely four days, gaining as much as 12% amid high hopes that the world’s leading oil producers will suspend plans on increasing oil supply as soaring cases of
Crude oil prices up 12% in barely 4 days, triggered by OPEC+ proposed cutsRead More »
The U.S. elections result currently shows Democrat Joe Biden has 264 of the needed 270 electoral college votes. The yellow metal was arbitrarily up at Thursday’s trading session, as it appeared increasingly likely Joe Biden would become the 46th U.S. president. What we know: Gold futures were up over 0.60% to trade at around $1,908/ounce, it’s
Gold prices up, Joe Biden in striking distance to clinch U.S PresidencyRead More »
Gold remained under pressure at the pre-opening of London’s trading session on Monday. Gold remained under pressure at the pre-opening of London’s trading session on Monday. The pressure seen on the precious metal is largely attributed to the U.S dollar rebounding and expectations growing for the U.S. Congress passage of the latest stimulus deal ahead
President Trump’s recent improved health status lifted the morale of oil traders, as buying pressures increased across the energy market, on Monday. The London trading session witnessed high price upswings with major oil benchmarks gaining 4%. Trump’s health update eased political growing geopolitical concerns with Brent crude prices trading above $40/ barrel and U.S. West
Crude oil prices gain more than 4% on President Trump’s improved healthRead More »
Gold futures was down 0.89% to trade at $1,890.60 an ounce on Wednesday’s trading session. Gold prices remained under intense pressure at the Wednesday trading session, as it went below $1,900/ounce. The slide is attributed to the rise of the U.S dollar, firing up on all cylinders on the macro that fresh COVID-19 lockdowns will
Gold prices bow to rising dollar, trades below $1,900/ounceRead More »
To truly diversify from oil and create proper value, agriculture must give birth to an industry. Over the years, Nigerians have clamored for a diversified economy, that is not over-reliant on crude oil. Recently there have been several talks about agriculture being on the front-burner of our exports. But the reality is that there is
Gold prices edged higher at Asia’s trading session on Tuesday. This gain was triggered by the U.S. dollar dropping some of its value. U.S. gold futures gained about 0.17% to trade at $1,942.55, as at the time this report was drafted. In the past week, the dollar index held firm near a more than one-week
