Crude Price

The international price of crude oil continued its rise yesterday, extending three weeks of gains on the back of improving outlook for fuel demand as countries ramp up the lifting of travel restrictions, leading to tightening commodity supply. While Brent crude, Nigeria’s oil benchmark, was up by over 35 cents, or more than 0.7 per cent, at $73.47, the highest ...

Oil prices on Wednesday inches with $1.09 to $71 barrel per day as demand in the United States and China move up. This is in line with OPEC + projections for the months ahead. Oil prices were higher on Wednesday as negotiations over the Joint Comprehensive Plan of Action continued to falter, and as a rebound in oil demand in ...

The international oil price, Brent crude, rose above the $70 per barrel mark on Tuesday, with the Organization of the Petroleum Exporting Countries projecting that demand for the commodity is bound to improve. Brent, against which Nigeria’s oil is priced, increased by $1.38 to $70.70 per barrel as of 4.32pm Nigerian time on Tuesday while the United States West Texas ...

……..by Jenifer Dike…….Nigeria’s economy grew 0.5 percent in the first quarter of this year due to the higher crude production and oil prices. According to officials from from the National Bureau of Statistics (NBS) the marginal growth saw activities slowly gain momentum after the gradual easing of coronavirus lockdowns.As the largest economy in Africa Nigeria exited its second recession since ...

Nigerians have expressed concern over the recent increase in the price of crude oil. The Brent Crude price on Tuesday rose to $68.52 per barrel by 1.42 percent. This rise in crude price suppose to have been some gains for Nigeria but industry stakeholders are diverse with their views and opinion over this rise in crude price. Moreso the immediate ...

The international oil benchmark, Brent crude, reached its highest in six weeks on Thursday as strong US economic data, a weak dollar and overall expected recovery in demand outweighed worries about the impact of increased COVID-19 cases in Brazil and India. Brent crude rose by $1.2 to $68.47 per barrel by 6:59pm Nigerian time, while the United States West Texas ...

Brent, the oil against which Nigeria’s crude is priced, continued its fall in price on Thursday with oil marketers in the country projecting that such a persistent plunge in global oil prices could lead to a reduction in petrol pump price. Industry figures showed that global oil prices maintained their steady decline on Thursday as Brent dropped to $62.92/barrel as ...

The international oil benchmark, Brent crude, fell the most in nearly two weeks on Monday as growing delays in Europe’s reopening and looming Iranian supply dampened hopes for a swift decline in global inventories. Brent, against which Nigeria’s oil is priced, dropped by $2.65 to $62.21 per barrel as of 9:06pm Nigerian time on Monday, while the United States West ...

The upturn in the price of the international oil benchmark, Brent crude, has pushed Nigeria’s oil revenue above the estimate in the 2021 budget. Brent, against which the country’s crude oil is priced, has been trading more than $20 higher than the Federal Government’s benchmark for this year’s budget in recent months. The 2021 budget, which was signed by the ...

………..Next target comes in at $57.56……….The price of crude oil has extended to new session lows in the last few minutes of trading. The price has moved to a low of $57.88. That run took the price below the low from last week at $58.28. It also has pushed the price to the lowest level since February 12, 2021. The ...