Despite renewed optimism, several factors tend to continue pushing oil prices downwards. The past three weeks have been very volatile for oil with WTI trading at around $37 on Thursday. Just when it appeared the oil bulls were taking prices to pre-pandemic levels; the Bears showed their teeth by taking the markets on a downward […]
Brent crude prices dropped 0.51% to trade at $40.58 a barrel, after rising 2.5% on Wednesday. Crude oil prices dropped at the Asian trading session on Thursday. The fall in energy prices is coming on growing concerns about fuel demand, after recent data showed that U.S. crude inventories increased last week, rather than falling as
Crude oil prices drop after U.S stockpiles surged higherRead More »
Even though there was a little appreciation in the NAFEX window, the Naira depreciated at the black market. Nigeria’s exchange rate at the NAFEX window appreciated to N386 during intraday trading on Wednesday, September 9, 2020. In sharp contrast, the naira depreciated to N445/$1 at the parallel market as the BDC operators wait for another
Naira depreciates at black market as BDCs expect another forex allocation from CBNRead More »
Brent crude futures were down by 0.65% trading at $39.52 falling below $40 a barrel. Crude oil prices dropped below the $40/barrel at Asia’s trading session. The price slide was triggered by the surge in COVID-19 caseloads globally and the U.S dollar gaining strength. At the time this report was drafted, Brent crude futures were
Crude oil prices drop below $40/barrel, as COVID-19 caseloads approach 27.5 millionRead More »
The exchange rate between the naira and the US dollar for today (Tuesday, September 8th 2020), closed at ₦443/US$1 in the parallel market. The rate had also closed at ₦445/US$1 on Monday, September 7th 2020. Naira: ₦443 Dollar: $1 Date: September 8th, 2020 The exchange rate between the naira and the British pound sterling closed
Daily Parallel Market exchange rate – ₦443/$1; ₦575/₤1; ₦510/€1Read More »
Leading tech stocks like Netflix, Facebook, Amazon, and Google were all down more than 1%. US Stocks plunged at the pre-open of the US trading session on Tuesday as global tech brands came under pressure following their worst sell-off in more than five months last week. The Nasdaq Composite was down about 2% at the
Brent crude was down by 0.17%, to $41.94 a barrel, after falling 1.5% on Monday. Crude oil prices continued their bearish trend on Tuesday’s trading session in Asia. This is coming on growing concerns among oil traders that the surge in COVID-19 caseloads will falter demand for gasoline. The number of global COVID-19 caseloads has
Crude oil prices post losses, fears on surge in COVID-19 caseloads strengthenRead More »
The naira depreciated to N445/$1 at the parallel market, despite the resumed sales of over $50 million to over 5,000 BDC operators. In sharp contrast, Nigeria’s exchange rate at the NAFEX window appreciated to N386 during intraday trading on Monday, September 7, 2020. Market Watch NAFEX: The Naira appreciated marginally against the dollar at the Investors and Exporters (I&E) window on
Naira falls at black market despite CBN’s sales of over $50 million to BDCsRead More »
The resumption of forex sales to the Bureau De Change operators by the Central Bank of Nigeria on Monday (today) will strengthen the exchange rate of the naira to the dollar according to the operators. In a circular, the CBN had announced plans to resume sale of foreign exchange to BDCs today as part of
Nigeria’s exchange rate at the NAFEX window appreciated to N386.13 during intraday trading on Friday, September 4, 2020, while it remained stable at N440/$1 at the parallel market. Market Watch NAFEX: The Naira appreciated marginally against the dollar at the Investors and Exporters (I&E) window on Friday, closing at N386.13/$1. This represents a 12 kobo gain when compared with the N386.25 to
Naira gains at NAFEX window as CBN block accounts of some firms for forex abuseRead More »
