Home Topics Oil Prices
Oil prices fell on Wednesday on weak economic data from China and Europe and a rise in U.S. crude inventories, almost erasing the previous session’s sharp gains after the U.S. said it would delay tariffs on some Chinese products.
Oil prices rose for a fifth day on Wednesday, supported by a drop in U.S. inventories and investor expectations that the U.S. Federal Reserve will lower borrowing costs for the first time since the financial crisis more than a decade ago.
The oil giant, whose operation was grounded by the Securities and Exchange Commission (SEC) when it laid siege to its head office with the police, weathered the storm and recorded a six per cent increase in revenue of N315.4 billion, from N297.3 billion, in comparative period of 2018.
Oil prices hit a six-week high on Thursday as oil rigs in the Gulf of Mexico were evacuated ahead of a storm, while an incident with a British tanker in the Middle East highlighted tensions in the region.
Oil prices fell on Thursday to erase some of the previous session’s strong gains, as traders wait for the G20 summit in Japan and for a meeting of OPEC and other crude producers to decide on an extension of output cuts.
Oil prices rallied towards 65 dollars per barrel on fears of a U.S. military attack on Iran that would disrupt flows from the Middle East, which provides more than 20 per cent of the world’s oil output.
Oil prices dropped on Thursday, extending falls from the previous session amid surging U.S. crude inventories as low refinery runs and ongoing trade tensions weighed on the demand outlook.
Oil prices fell on Thursday, pulled down by record U.S. crude production that led to a surge in stockpiles.
Oil prices dipped on Friday on expectations that producer club OPEC will soon raise output to make up for a decline in exports from Iran following a hardening of sanctions on Tehran by the United States.
Oil prices slipped below six-month highs on Wednesday after signs that cushioned a rally based on fears of tight supply resulting from OPEC output cuts and U.S. sanctions on Venezuela and Iran.
Oil prices inched up on Wednesday amid supply cuts by producer group, OPEC, and U.S. sanctions on oil exporters, Iran and Venezuela, but pressured by expectations that an economic slowdown could soon dent fuel consumption.
Mexico international Hirving Lozano arrived in Italy on Tuesday ahead of his expected move to Napoli from PSV.
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.
As the crowd erupted into a thunderous roar to mark the signing of a declaration on Sudan’s transitional constitution, 19-year-old Ali broke into tears for his dead brother.
The Federal Government has said marriage certificates not issued in accordance with statutory marriage guidelines are invalid and holds no legal value in case of any problem in the relationship.
Arsenal head coach Unai Emery has demanded an improved performance from his players against Burnley, despite kicking off their Premier League campaign with a 1-0 win at Newcastle United last weekend.
Former Flying Eagles midfielder Kingsley Michael has extended his contract with Serie A club, Bologna.
In compliance with President Muhammadu Buhari’s directive, Abayomi Gabriel Olonisakin, chief of defence staff, constituted a 7-man joint investigation panel to unravel the circumstances that led to the unfortunate Wukari incident.