Crude oil prices drifted lower at the first trading session of the week in London. Oil traders are arbitrarily going short, on signs of more COVID-19 lockdowns in Europe. At the time of drafting this report, Brent crude futures were down 0.57% to trade at $64.16 a barrel, West Texas Intermediate futures lost about 0.54% […]
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
Oil prices rally high on improved energy demand outlookRead More »
Tuesday 16th February 2021: The exchange rate between the naira and the dollar depreciated slightly closing at N410/$1 at the NAFEX (I&E Window) where forex is traded officially. This is as the naira hit N423.15/$1 during trading day despite the global oil prices crossing the $64 mark. Naira closed against the US Dollar at N410/$1,
Crude oil prices were all fired up at the fourth trading session of the week, as it continued an almost week-long bullish run, passing 13-month highs. The arctic blast presently in play at Texas continues to distort oil production, with more than 20% of U.S. refining output and a million barrels of oil output closed
Oil prices sells above $65 per barrel, passing 13-month highRead More »
On February 5, 2021, the exchange rate between the naira and the dollar appreciated closing at N396.17/$1 at the NAFEX (I&E Window) where forex is traded officially. On the parallel market where forex is traded unofficially, the naira exchanged for the dollar at N480/$1 unchanged from the previous days trading. Trading turnover at the I&E window rose
Naira gains value at NAFEX window as Oil prices approach $60 markRead More »
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Brent crude plunged by over 4.75% to trade at $49.85 a barrel after rising 1.5% to its highest since March on Friday. Oil prices dropped over 4% at Monday’s trading session amid reports that reveal the fast-spreading new COVID-19 strain has shut down much of the United Kingdom. This has further led to tighter restrictions
Just Now: Oil prices decline below $50 per barrelRead More »
Oil prices have rallied for six consecutive weeks, their longest streak of gains since June. Oil prices kept their cool at the start of trading for the week. Crude oil prices are back above $50 a barrel, buoyed by hopes that a rollout of COVID-19 vaccines would support global energy demand. Oil prices have rallied
Oil prices rally for 6 weeks, longest streak since JuneRead More »
Brent Crude traded ay $50.16/Barrel showing a gain of over 2%, while the WTI futures traded at $46.87/Barrel. Crude oil prices showed remarkable resilience at the close of Thursday’s trading session in London. Brent crude prices were trading at $50/barrel touching the highest price area since March amid positive macros coming from COVID-19 vaccines. At
Oil prices hit $50/barrel for the first time since MarchRead More »
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 »
