Crude Oil

Prices of oil futures tumbled in the oil market on Tuesday. Brent crude closer to Nigeria’s Bonny Light dropped below $40 a barrel for the first time since June. US crude also plunged more than 8%. U.S. West Texas Intermediate…

TAYO ELEGBEDE The Department of State Security (DSS) and the Nigeria Police have foiled the fraudulent attempt by SAMANO agents to fleece $125 million from the Nigerian National Petroleum Corporation (NNPC) and the federal government…

U.S. retail sales increased by the most on record in May after two straight months of sharp declines as businesses reopened, offering more evidence that the recession triggered by the COVID-19 pandemic was over or drawing to an end. The…

ISMAIL MUSA   In the just concluded week, Naira depreciated against the Dollar at the Investors and Exporters FX Window (I&E FXW) by 0.10 to close at N386.33/USD as the rally in crude oil prices slowed at the international market.…

Crude oil futures fell on Monday, with U.S. futures dropping more than 10% to levels unseen since 1999 amid concerns that U.S. storage facilities will soon be brimful with demand evaporating due to the coronavirus pandemic. The volume of…

Oil demand in highly industrialised countries will shift from slight growth to a decline after 2020, while India and China will ensure that global oil consumption will grow over the next decades, an official said. This is according to an…

A total N4,007.4 billion imports drove the value of Nigeria’s foreign trade in the second quarter of the year, pushing it to N8,603.4 billion for the period. Imports was 46.6 percent while exports accounted for 53.4 percent or N4,596.2…

The Nigerian National Petroleum Corporation has expressed its desire to extend Nigeria’s trade relations with Turkey beyond crude oil. The Group Managing Director of NNPC, Malam Mele Kyari, disclosed this when the Ambassador of Turkey to…

It is commonplace to say that Nigeria is at the moment very lucky because of oil revenues. In a very real sense we have much more money than our system can absorb. Unofficial estimates put the figure added to our reserve this year at…

Terry Anyaoku, With Agency’s Report Oil prices turned positive on Tuesday, tracking a rally in global stock markets, with Brent crude recovering from a four-month low, Reuters have reported. World stocks rallied after comments from…