WTI crude futures rose past $82 per barrel on Monday, extending gains for the third session underpinned by factors including supply constraints and a halt in dollar’s upward momentum, while persisting struggles within China’s economy cast a shadow on the market sentiment. Output cuts from OPEC+ majors Saudi Arabia and Russia have been boosting oil…
China has announced plan to increase retail prices of petrol and diesel on Thursday, as the local market reacts to the rise in international oil prices. Trading Economics reports that WTI crude oil futures advanced to over $84 per barrel on Wednesday, the highest since November 2022, amid growing concerns of low supply. China says…
WTI crude futures fell to around $71 per barrel on Friday and were on track to decline for the second straight week, as economic fears and the prospect of higher global supply outweighed Saudi Arabia’s announcement of another output cut in July. Investors continued to grapple with the prospect of further interest rate hikes from…
Fuel queues have resurfaced across the states in Nigeria as the marketer hoard the product, awaiting the final position of the government on new prices of petrol. Pump price of petroleum motor spirit has skyrocketed across the cities to above N500 per liter following the new government’s Monday announcement of the end to fuel subsidy….
