World food prices rose in January, buoyed by a rebound in dairy prices and stronger showings for vegetable oils and sugar, the United Nations food agency said on Thursday.
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Oil prices rise on uncertainty over Libyan crude exports
Oil prices rose, Tuesday due to uncertainty over Libyan oil exports, although there are plans by producer cartel OPEC to raise output loom. Brent sweet crude futures, the international benchmark for oil prices, were at 74.95 dollars per barrel at 01.04 GMT, up 22 cents, or 0.3 per cent from their last close. The United […] …
Crude Prices Rise Above $80 For First Time Since 2014
Benchmark oil contract Brent North Sea briefly surged above $80 a barrel Thursday, hitting its highest level since late 2014 and extending a recent run higher fuelled by tight supply concerns. European stock markets meanwhile rose as the euro weakened against the dollar, but Wall Street pulled back in early New York trading. Brent … Continue reading Crude Prices Rise Above $80 For First Time Since 2014
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Why higher crude oil prices won’t save Nigeria’s economy
Nigeria’s income from crude oil export has lately been boosted, fortuitously, by the unexpected rise in crude oil prices, beyond the 2017 budget benchmark of $44.5/barrel. This favourable outcome which is evidently buoyed by OPEC’s strategic supply management, should ordinarily be a blessing to our economy. Indeed, such optimism on oil price may also be sustained by the International Energy Agency’s January 2018 Oil Market Report, which projects oil price to remain between $60-$70/barrel this year.
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