Crude Price

*Trump says he is considering 25% tariffs on Mexico and Canada from February *President declares sweeping plan to maximise US oil production *U.S. will “probably” stop buying Venezuelan oil, Trump says Oil prices fell on Tuesday as investors assessed U.S. President Donald Trump’s plans to apply new tariffs later than expected while boosting oil and gas production in the United ...

The crude oil market has shown signs of resilience over recent weeks, with analysts suggesting a potential move to the upside in 2025. Both West Texas Intermediate (WTI) and Brent crude are navigating current market conditions with caution as liquidity remains thin during the holiday season. On Friday, WTI crude oil prices rallied slightly, maintaining a pattern of bouncing between ...

In a move expected by analysts, Saudi Arabia has lowered the official selling price (OSP) of its crude oil for deliveries to Asia in January. The price cut, driven by weak global demand, marks the cheapest Saudi crude for the region in four years. According to Reuters, the price for Saudi Arabia’s flagship Arab Light blend has been reduced from ...

Oil prices firmed on Wednesday as market participants weighed up geopolitical tensions and the prospect of OPEC+ extending supply cuts against weaker demand. According to Reuters report, Brent crude futures rose 23 cents, or 0.3%, to $73.85 a barrel by 0700 GMT, while U.S. West Texas Intermediate crude futures gained 19 cents, or 0.3%, to $70.13. On Tuesday, Brent posted ...

Oil prices rose on Monday, as strong factory activity in China buoyed hopes of higher demand, and as escalating tensions in the Middle East, where Israel resumed attacks on Lebanon despite a ceasefire deal, spurred supply concerns. According to Reuters, Brent crude futures climbed 36 cents, or 0.49%, to $72.20 a barrel by 10:44 a.m. EST (1544 GMT) while U.S. ...

The Independent Petroleum Producers Group (IPPG) commended the leadership of Engr. Gbenga Komolafe, the Commission Chief Executive of Nigerian Upstream Petroleum Regulatory Commission (NUPRC), for tireless efforts and unwavering commitment to the growth and development of the oil industry. IPPG made this commendation during the third year anniversary celebration of NUPRC. According to the independent petroleum producers, the Commission has ...

Photo: L-R Lagos State Commissioner for Energy, Biodun Ogunleye; Transcorp Power President, Dr. OwenOmogiafo; Minister of Power, Adebayo Adelabu; Exihibition Director Nigeria Energy, Ade Yesufu and Akinwole Omoboriowo, Chairman & CEO of Genesis Energy Genesis, a leading energy solutions provider in West Africa, has announcedits sponsorship of the Nigeria Energy Leadership Summit, which runs from October 15 to 17,2024, in ...

……….by Ben Ndubuwa…… The Nigeria Energy Leadership Summit 2024 kicked off with a strong emphasis on breaking barriers in the global energy era, bringing together leaders from the Nigerian and international energy sectors. The event, focused on the theme of clean energy transition, highlighted the growing importance of renewable energy, energy efficiency, and digitalization in transforming the African energy landscape. ...

Nigeria has witnessed the sixth grid collapse this year, which has thrown Nigerians into darkness again as the nation continues to grabble with constant electric power failure. Reports nationwide indicated the grid collapsed at about 6:18 p.m. on Monday. Power generation dropped from 3.87 gigawatts at 5 pm to 3.56GW at 6 pm and 0.00GW at 7 pm and 8 ...

The Nigeria Prize for Literature, Africa’s most prestigiuos literary award, sponsored by NLNG, on Friday announced The Road Does Not End by Olubunmi Familoni as the winner of the 2024 edition of the prize, focused on children’s literature. Familoni was awarded the $100,000 prize for his winning entry following an announcement by the Advisory Board at the 2024 Grand Award ...