Global crude oil prices have recorded a 3 per cent decline, falling below the $70 per barrel mark, following Israel’s agreement to a ceasefire deal brokered by US President Donald Trump to end hostilities with Iran.

Nigeria’s major crude grades—Bonny Light, Brass River, and Qua Iboe—rose above $77 per barrel on Friday and sustained the rise till Sunday.

N12.9trn Worth of Crude Exported as Local Refiners Starve   Oil producers exported crude oil and other petroleum products worth N12.96tn in the first quarter of 2025, even as domestic refineries continue to suffer from poor feedstock supply. This is despite the slow implementation of the Domestic...

Brent crude oil price increased by 2.22 percent to $65.33 a barrel on Monday. Also, US West Texas Intermediate (WTI) crude rose by 3.36 percent to $62.39 a barrel at 16.35 WAT.

OPEC Oil Output Drops in April - Report   The Organisation of the Petroleum Exporting Countries (OPEC) oil output edged lower in April despite a scheduled output hike taking effect, a Reuters survey found. The decline was led by a cut in Venezuelan supply on renewed United...

Nigeria Secures Crude Deal with Turkish Refiner for March, April   Turkey’s largest oil refiner, Tupras, has placed orders for Nigerian crude oil cargoes scheduled for March and April, a move that could boost Nigeria’s revenue amid efforts to ramp up exports. This is according to shipping...