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 […]
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 »
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
Oil prices tumble, oil traders jittery on OPEC+ meetingRead More »
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 »
