Crude oil plunged, largely due to growing concerns amongst oil traders on what the outcome of the OPEC+ meeting will be. Crude oil traders became jittery at the first trading session of the week, pushing oil prices to fall more than 1.5%. The plunge is largely attributed to growing concerns amongst oil traders on what […]
Attack on Shell/Agip facilities triggers fear of renewed Niger Delta militant activities. Oil facilities owned by Shell/Agip were attacked on Wednesday by unidentified people in a sign that militant activities may have resumed again in the oil-rich Niger Delta region of Nigeria. Several explosions were heard in the facilities located at the Ikarama community in
Economy on edge as militants blow up Shell/Agip gas pipelinesRead More »
Oil traders hoping on OPEC+ meeting scheduled to hold in some days time could see the organisation extend current cuts by 3-6 months. Oil prices extended its upside at Monday’s trading session. Oil traders are riding bullish on the macro that Organization of the Petroleum Exporting Countries (OPEC), Russia, and other producers – a group
The Federal Government has announced plans to make the foreign exchange available to petroleum product marketers. The Federal Government has announced plans to make the foreign exchange available to petroleum product marketers, in order to make the importation of petrol into the country competitive, reduce the rising cost of the product, and stop the overdependence
FG to make forex available to oil marketers for import to drive down petrol priceRead More »
Brent crude futures were up 1.1% and priced at $43.21 a barrel and West Texas Intermediate crude was priced at $40.66 a barrel, up by 1.32%. Oil prices started the first trading week bullish. Oil bulls recouped some losses recorded at the previous session amid high hopes that OPEC+ will continue to limit output in
Crude oil prices dropped at the last trading session of the week amid fears of a slow recovery in the global economy. Crude oil prices dropped at the last trading session of the week amid fears of a slow recovery in the global economy due to the viral attacks presently going on in the international
Oil prices drop 1% on soft energy demand & COVID-19 attacksRead 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 »
Brent oil futures gained 2.71% to $40.53 and West Texas Intermediate futures soared higher by 2.91% to trade $38.22. Crude oil prices rallied more than 2% after the outcome of the U.S. election became clear, with both Brent and WTI futures gaining above their critical support levels. However, the worsening COVID-19 attack and soft demand
Brent crude prices dropped over 1% trading at $40.68/barrel, while West Texas Intermediate also dropped over 1% to trade at $38.63. Crude oil prices fell significantly at the fourth trading session of the week amid macros coming from U.S election results showing presidential contender Joe Biden is within striking distance to clinch the U.S. presidency.
Oil traders go bearish, Joe Biden seems more likely to winRead More »
Brent crude traded above $40/Barrel gaining more than 2%. A positive showing in Trump’s hope for reelection has kept the price of Brent crude above the critical support level above $40/barrel. What we know; At the time of drafting this report, Brent crude traded above $40/Barrel gaining more than 2%. What this means; This is
BREAKING: Brent Crude up, Trump leads in Michigan, PennsylvaniaRead More »
