Oil

Oil held steady as traders weighed persistent concerns that an oversupply is looming against an escalating conflict between Israel and Hezbollah. West Texas Intermediate was little changed near $68 a barrel. Equities markets also were down…

The Nigeria Extractive Industries Transparency Initiative (NEITI), says outstanding collectible revenues due to the Federal Government in the oil and gas industry have risen to 6.071 billion dollars and N66.4 billion as at June 2024,…

Oil jumped 3% on Tuesday to its highest level this month, as further attacks on ships in the Red Sea prompted fears of shipping disruptions and hopes of interest rate cuts that could boost economic growth and fuel demand. Brent crude…

Oil prices edged lower on Thursday on growing expectations that key Western economies would maintain high interest rates to tackle stubborn inflation. By 1312 GMT, Brent crude futures were down 66 cents at $95.89 a barrel after rising to…

Oil prices fell on Tuesday as a stronger U.S. dollar compounded concerns that demand for fuel will be held back by major central banks holding interest rates higher for longer. Brent crude futures were down $1.16, or 1.24%, at $92.13 a…

Nigeria has lost an opportunity to produce and sell about 65,700,000 barrels of oil in the last one year due to issues bothering pipeline vandalism and the resultant oil theft. This translates to about N2.3tn loss in oil revenue if the…

Surprise new cuts to the OPEC+ group's output targets could push oil prices towards $100 a barrel, setting the scene for another clash with the West grappling with higher interest rates, analysts and traders said. The decision signals…

Oil prices pared losses after falling by over $2 earlier in the session, as a weaker dollar partially offset demand fears resulting from surging COVID-19 cases in China. Brent futures for February fell 96 cents, or 1.15%, to $82.30 a…

Oil prices rebounded on Wednesday, snapping a two-day slide, as the market looked beyond government data indicating that output was recovering faster than refining after last month’s storm-related outages in Texas. Futures of New…

Oil prices soared on Monday to their highest in about 13 months as fears of heightened tensions in the Middle East prompted fresh buying, while hopes that a U.S. stimulus and an easing of lockdowns will buoy fuel demand provided support.…