Crude oil prices held to gains after U.S. President, Trump resumed the White House from the hospital. Crude oil prices held to gains after U.S. Trump resumed back to the White House from hospital after being admitted for treatment for COVID-19 coupled with a pending storm waiting to hit the U.S. Gulf of Mexico. What […]
The Naira remained stable against the dollar to close at N458/$1 on Monday. Nigeria’s exchange rate at the NAFEX window depreciated against the dollar to close at N386/$1 during intraday trading on Monday, October 5, after the public holiday. In sharp contrast, the naira appreciated against the dollar, closing at N458/$1 at the parallel market
Naira gains big at black market as CBN boost supplyRead More »
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 »
Oil futures dropped at its last trading session, contributing to a second weekly loss for crude oil prices as President Donald Trump’s COVID-19 diagnosis raised further concerns over a slowdown in the global economy. “Rising coronavirus cases across the globe fan fears around slowing world growth and pace of demand recovery,” said Lukman Otunuga, senior
Forex turnover rose by 35% as Nigeria’s exchange rate at the NAFEX window appreciated against the dollar to close at N385.80/$1 during intraday trading on Friday, October 2 after the public holiday. Also, the naira remained stable against the dollar, closing at N465/$1 at the parallel market on Friday, October 2, 2020, as the pressure
Exchange rate gains at NAFEX window as BDCs get further dollar supply from CBNRead More »
The US dollar index was up 0.23% to trade at 93.977 earlier on Friday. Price swings in the global financial markets are triggering a bounce in the U.S dollar showcasing the currency’s safe-haven status amid worries over economic growth recovery and political imbalance at the world’s biggest economy. The U.S dollar was nearly 2% in
Brent crude was down 48 cents, or 1.17%, after falling more than 3% on Thursday. Oil prices continued their decline for the second day in a row, as rising crude oil production from OPEC comes amid a worsening COVID-19 pandemic which threatens to bring more restrictions on movement and consumption, and will likely hit demand
Oil price drop continues over increased OPEC supplies and decline in demandRead More »
The Naira depreciated against the dollar at the Investors and Exporters (I&E) window on Wednesday. Forex turnover dropped by 37% as Nigeria’s exchange rate at the NAFEX window depreciated against the dollar to close at N386/$1 during intraday trading on Wednesday, September 30. In contrast, the naira appreciated against the dollar, closing at N465/$1 at the parallel market
Exchange rate weakens at NAFEX window as dollar supply continues its declineRead More »
Stuck at $40, static oil prices mean exchange rate crisis could remain till next year. Nigeria’s current account deficit and the exchange rate could remain under pressure longer than expected due to analyst outlook of the price of crude oil. Crude oil prices have been stuck at $40 per barrel and could remain at these levels for the next
Nigeria faces prolonged exchange rate crisis as oil prices remain stuck at $40Read More »
Oil futures fell precipitously on Wednesday amid mounting fears of oil demand recovery. Crude oil prices dropped lower at Asia’s trading session on Wednesday. The price plunge in the hydrocarbon commodity is attributed to oversupply fears, as U.S. refineries are beginning to shed labor force. Brent oil futures dropped 1.17% to $40.55 by 4.57 GMT
