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Brent crude to average $75, says report

Brent crude to average $75, says report

The price of Brent will average  $75 per barrel this year, a new report released at the weekend said. Brent Crude is a major trading classification of sweet light crude oil that serves as a benchmark price for purchases of oil worldwide. This grade is described as light because of its relatively low density, and […] …

Oil price: Saraki, Rewane, LCCI, others raise fresh worries over 2019 budget

Oil price: Saraki, Rewane, LCCI, others raise fresh worries over 2019 budget

“Between the crude oil price and production we have already seen that once we don’t meet those targets, we are going to have a huge deficit problem.” Adewale Sanyaolu Worried by persistent drop in international crude oil prices, some Nigerian experts are becoming apprehensive that the implementation of the 2019 budget may be hugely challenged […]
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Oil rises towards $90, Asia stocks slip as NAFTA lift fade

Oil rises towards $90, Asia stocks slip as NAFTA lift fade

NAN Asian stocks fell on Tuesday as the lift from an agreement that saved the North American free trade deal faded, with cautious views on the global economy curbing risk sentiment. In commodities, U.S. crude futures were up 0.4 percent at 75.60 dollars a barrel. Crude contracts surged nearly three per cent to 75.77 dollars […]
The post Oil rises towards $90, Asia stocks slip as NAFTA lift fade appeared first on The Sun Nigeria. …

Oil inches to $85 as Iran sanctions loom

Oil inches to $85 as Iran sanctions loom

Brent crude oil prices hit their highest level since November 2014 on Monday, ahead of U.S. sanctions against Iran that kick in next month. Brent sweet crude oil futures rose to as much as $83.27 a barrel, yesterday. U.S. West Texas Intermediate (WTI) crude futures were at $73.57 a barrel. Brent was pushed up by […]
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Refineries production capacity down by 18%

Refineries production capacity down by 18%

Adewale Sanyaolu The Federal Government’s failure to turn around its ailing refineries has caused an 18 per cent decline in production capacity. The abysmal performance of the refineries is contained in the latest monthly financial report (April edition) released by the NNPC. The report indicated that Premium Motor Spirit (PMS) popularly called petrol and Dual […]
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Foreign reserves decline for the first time in eight months

Foreign reserves decline for the first time in eight months

Data made available by the Central Bank of Nigeria show that the nation’s foreign reserves dropped by $72 million between Thursday, May 10 and Monday, May 14. The reserves, which stood at $39.3 billion The post Foreign reserves decline for the first time in eight months appeared first on TheCable.

Trump tweets at OPEC over “Very High” prices, oil instantly falls

Trump tweets at OPEC over “Very High” prices, oil instantly falls

Bloomberg Oil fell in New York after U.S. President Donald Trump criticized OPEC and said crude prices
The post Trump tweets at OPEC over “Very High” prices, oil instantly falls appeared first on The Sun News. …

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