Global oil benchmark, Brent crude, hit an eight-week high yesterday as the world’s biggest producers prepared to discuss a possible freeze in production levels. Brent, against which half of the world’s oil is priced, rose by $0.84 to $50.69 per barrel as of 7:58pm Nigerian...

The country’s earnings from crude oil export have continued to fall, as latest data from the Central Bank of Nigeria showed that the volume of crude export dropped by 10.23 million barrels in the month of May. At the official exchange rate of N315.5 to...

Global oil benchmark, Brent crude, extended its declines on Wednesday, trading around $43 per barrel, down from a 2016 peak of $52.54. Oil prices plummeted over $1 per barrel within minutes after official United States energy data showed an unexpected glut of oil in storage,...

Global oil benchmark, Brent crude, on October 26, 2016 has traded above $50 per barrel for the first time in 2016 as supply disruptions and increased global demand continue to fuel a recovery. Brent, against which Nigeria’s oil is priced, hit $50.14 per barrel ,...

Brent crude powered back above $49 a barrel in Asia Friday as oil prices resumed their rise after the dollar eased and militants blew up another pipeline in African producer Nigeria. A rally that pushed oil prices to a series of 2016 highs since last...

Global oil prices traded higher, buoyed by supply disruptions of 2.5 million barrels per day in some countries, including Nigeria and Canada. Brent crude, the global oil benchmark, rose by 1.59 per cent to $45.20 per barrel, while the United States West Texas Intermediate traded...