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 naira hit another new low as it depreciated against the dollar, closing at N480/$1 at the parallel market. Forex turnover improved significantly by 526%, as Nigeria’s exchange rate at the NAFEX window appreciated against the dollar to close at N385.50/$1 during intra-day trading on Thursday, November 19. Also, the naira hit another new low as
Naira records new low despite over $1 billion allocation by CBN since SeptemberRead More »
At the black market, the Naira depreciated against the dollar to close at N478/$1. Forex turnover dropped by 44.13%, as Nigeria’s exchange rate at the NAFEX window depreciated against the dollar to close at N386/$1 during intra-day trading on Wednesday, November 18. Also, the naira hit record low as it depreciated against the dollar, closing at N478/$1
Naira crashes to record low at black market as demand pressure intensifiesRead More »
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 »
At the black market, the Naira depreciated against the dollar to close at N475/$1 on Monday. Forex turnover dropped marginally by 2.26%, as Nigeria’s exchange rate at the NAFEX window remained stable against the dollar to close at N386/$1 during intra-day trading on Monday, November 16. Also, the naira depreciated against the dollar, closing at
Naira declines to the lowest in 12-weeks at black market as Increased demand sets inRead 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
The Naira depreciated against the dollar to close at N470/$1 at the black market. Forex turnover dropped by 39%, as Nigeria’s exchange rate at the NAFEX window depreciated against the dollar to close at N386/$1 during intra-day trading on Friday, November 13. Also, the naira depreciated again the dollar, closing at N470/$1 at the parallel market
Naira declines to the weakest in 6 weeks at black market even after CBN interventionRead More »
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 »
The Naira depreciated against the dollar to close at N468/$1 on Thursday at the black market. Forex turnover dropped by 7.4% as Nigeria’s exchange rate at the NAFEX window appreciated against the dollar to close at N385.67/$1 during intra-day trading on Thursday, November 12. However, the naira depreciated further against the dollar, closing at N468/$1 at the
Naira depreciates at black market as demand pressure in forex market intensifiesRead 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 »
