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OPEC Secretary-General, Mohammad Barkindo, said on Thursday that there are many non-fundamental factors influencing the oil market that are beyond oil producers’ control.
The International Monetary Fund (IMF) has warned Nigeria and other oil exporting nations in dire need of structural reforms not to be tempted to delay the exercise due to the current higher oil prices.
The dollar continued to brush aside other currencies Thursday after further proof of the booming US economy sent Treasury yields surging, but Asian equities sank with more Federal Reserve rate hikes looking certain.
Oil traded above 85 dollars a barrel on Wednesday, supported by expectations that U.S. sanctions on Iran will tighten supply and strain the ability of Saudi Arabia and other producers to pump more.
Oil prices rose on Monday as U.S. markets tightened just weeks ahead of Washington’s plan to impose new sanctions against Iran.
Oil prices were mixed on Friday after falling in the previous session as US President Donald Trump urged the Organisation of Petroleum Exporting Countries to lower crude prices ahead of its meeting in Algeria this weekend.
Asian markets sank on Monday following reports that Donald Trump is planning to hit China with another round of tariffs, dealing a blow to hopes for talks between the two economic giants.
Hong Kong and Shanghai led a broad sell-off across most Asian markets Monday after Donald Trump threatened to impose tariffs on all Chinese imports, ramping up fears of an all-out trade war between the world's top two economies.
Brent oil rose to approximately 74 dollars a barrel on Wednesday as an industry report showing a drop in U.S. crude inventories and U.S. sanctions on OPEC producer, Iran, pointed to tighter supplies.
The dollar fell versus the euro and pound Tuesday after US President Donald Trump hit out at the Federal Reserve’s interest rate rises, accusing it of not backing his economic plan, while most equity markets climbed looking ahead to China-US trade talks.
Asian markets advanced Friday, with Shanghai gaining two percent as China's weak yuan currency defied US President Donald Trump's criticism of a strong dollar and Fed rate hikes.
Oil rose on Tuesday, supported by gains in equities and supply concerns in Norway and Libya.
Oil traded near its highest in three and half years on Thursday, boosted by potential disruptions to flows from Iran and the Middle East as U. S. President Donald Trump says OPEC should cut prices.
After months of sharp oil price rises there is now considerable uncertainty as to the market’s direction for the rest of the year, OPEC said on Tuesday as a key meeting of oil producers looms.
The Nigerian Stock Exchange (NSE) market indices shed 0.21 per cent due to loses in some blue chips.
The Men’s senior National Basketball Team will tonight leave for China for the final phase of their 2019 FIBA World Cup preparations.
President Muhammadu Buhari on Tuesday told incoming ministers that all requests for meetings with him should pass through his chief of staff, Abba Kyari.
The Chief of Army Staff, Lt.-Gen. Tukur Buratai, has expressed the readiness of Nigerian Army to enhance local capacity in providing logistics for its operations.
A Federal High Court in Lagos has declined to order the release of SaharaReporters publisher, Omoyele Sowore, and other persons in connection with the August 5, #RevolutionNow protest.
Juventus are preparing a bid in the region of €10 million (£9m/$11m) for young Barcelona left-back Juan Miranda.
Residents of Odumodu in Umunya, Oyi Local Government Area of Anambra State have said their monarch, Igwe Kris Onyekwuluje, should be held responsible for any calamity on any of their leaders.
Nigerians, irrespective of their tribe, religious and political affiliation, have been enjoined to be team players in curtailing the security challenges that have bedeviled the country in recent times.
Former Niger State governor, Dr. Mu’azu Babangida Aliyu, has said that the reason he has decided to stay quiet for a long time is to keep people guessing on what he is up to.
A federal lawmaker under the platform of the All Progressives Congress (APC) in the House of Representatives in Oyo State, Hon. Shina Abiola Peller, representing Iseyi/Kajola/Itesiwaju/Iwajowa federal constituency of Oyo State, has empowered about 120 graduate farmers in the state with over N50 million as part of efforts to improve the economic well being of the people.