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Oil Prices

Brent oil dives over 7% to lowest since 2003

Oil prices slumped anew on Friday with Brent North Sea crude plumbing a 17-year low owing to massive oversupply as the coronavirus crisis paralyses global demand.

Crude oil prices inch up after US record $2 trillion stimulus

Crude oil prices went up at trade opening on Wednesday with optimism that the $2 trillion aid package to stimulate the American economy would increase crude demand.

Low crude oil prices may force Nigeria to abandon production

Nigeria may soon slip out of reckoning as a profitable oil producer in the Organisation of Petroleum Exporting Countries (OPEC) if crude oil prices decline further by at least another $3.

Oil prices regain some ground but still very low

Oil prices regained some ground in volatile Asian trade on Monday, but remained at multi-year lows due to the double shock of the coronavirus pandemic and the Saudi-Russia price war.
President of the Senate Ahmad Lawan on Tuesday tasked top security officials to beef up security measures at the National Assembly.

Coronavirus: Deeper trouble awaits Nigeria if… – Senator Lawan

President of the Senate, Senator Ahmad Lawan, warned Tuesday that following the impact of the ravaging Coronavirus on the economy, Nigeria will be in deeper trouble if as a country, we are not ingenious enough.
President of the Senate, Ahmad Lawan, disclosed on Tuesday that the Senate may next week consider the report of an Ad-Hoc Committee on security challenges with a view to finding solutions to Nigeria’s security problems.

Senate wants 2020 budget reviewed as oil prices crash amidst coronavirus outbreak

The Senate, on Tuesday, said the review of the 2020 budget passed by the National Assembly has become inevitable as a result of tumbling oil prices amidst the coronavirus outbreak.
Nigeria Naira

Naira bounces back after days of depreciation

The naira appreciated against the dollar on Friday after days of panic buying amid speculations that the Nigerian central bank may devalue the local currency.

Oil prices sink further

Oil prices fell for the second straight day on Thursday amid a broad decline in global markets after the United States banned travel from Europe following the World Health Organization’s decision to declare the coronavirus outbreak a pandemic.
Nigerian Stock Exchange NSE

Nigeria stock market capitalisation drops further by N656 billion

Panic sell off continued on the Nigerian Stock Exchange (NSE) on Tuesday with the market capitalisation shedding N656 billion in what an expert attributed to fear of naira devaluation.

Oil plunges 25 percent as another virus-fueled trading week begins

Oil prices are plunging amid concern a dispute among producers could lead a global economy weakened by COVID-19 to be awash in an oversupply of crude.

Oil prices dip on ease of Iran tension

Oil prices tumbled on Wednesday as United States President Donald Trump signalled tensions with Iran are easing, reducing fears of a deeper conflict between the two nations.
Donald Trump

Oil, gold prices soar, equities tumble as Donald Trump tweets war

Oil prices surged, gold hit a more than six-year high and most equities tumbled Monday after the US assassination last week of a top Iranian general fanned fears of a major conflict in the Middle East.
Donald Trump

Donald Trump taunts Iran after US kills top general

President Donald Trump on Friday morning tweeted his first statement after an American airstrike killed Iran’s top military commander hours earlier.
Pedestrians walk past an electronics stock indicator at the window of a security company displaying the current rate of Tokyo Stock Exchange in Tokyo on November 13, 2018. - Tokyo stocks dived more than three percent shortly after the open on November 13, with investors discouraged by a plunge in US shares on fears over demand in the tech sector. (Photo by Toshifumi KITAMURA / AFP)

Asian shares stumble, oil, gold up

Asian shares slipped on Friday, erasing early gains, while gold shone and oil prices spiked after U.S. airstrikes in Iraq killed a top Iranian commander, heightening geopolitical tensions.
Organisation of Petroleum Exporting Countries (OPEC) | Reuters

Oil prices fall as Russia touts easing OPEC+ output

Oil fell on Monday after Russia said an OPEC-led pact may consider easing output cuts next year, but prices held near recent three-month highs on hopes for a trade deal between the United States and China.

Oil falls as US rights bill fuels tensions with China

Oil prices fell for a second day on Thursday after official data showed U.S. crude and gasoline stocks rose and President Donald Trump signed into law a bill backing protesters in Hong Kong, fueling tensions with China.

Oil falls as US-China trade deal prospects dim

Oil prices fell on Wednesday as prospects for a trade deal between the United States and China faded, weighing on the outlook for the global economy and energy demand.

Oil prices gain as market awaits signals on US-China trade talks

Oil prices rose on Tuesday, reversing early losses on hopes that U.S. President Donald Trump may signal progress on trade talks with China in a speech later in the day, Reuters reported.

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