Oil Price Rises To $64 As Ship Blocks Suez Canal       The international oil benchmark, Brent crude, reversed its recent losses on Wednesday after a ship ran aground in the Suez Canal, and worries that the incident could tie up crude shipments gave prices a boost...

Oil Tumbles To $60 On Concerns Over Vaccine Rollouts       The international oil benchmark, Brent crude, fell more than six per cent on Tuesday, tumbling as concerns over new pandemic curbs and slow vaccine rollouts in Europe compounded additional crude volumes. Brent, against which Nigeria’s crude oil...

Oil Drops After Hitting $70, OPEC+ Output Plunges       The international oil benchmark, Brent crude, dropped on Monday after climbing above the $70 per barrel mark for the first time in over 14 months. Brent, against which Nigeria’s oil priced, fell by $1.30 to $68.06 per barrel...

Nigeria’s Revenue Prospects Brighten As Oil Hits $67       The international oil benchmark, Brent crude, rose further on Wednesday to $67 per barrel, compared to Nigeria’s budget benchmark of $40 per barrel. For Nigeria, which relies on crude oil for about 50 per cent of government revenues...

Petrol Landing Cost Rises To N186 As Oil Hits $64       Against the backdrop of the rising price of oil prices, the landing cost of Premium Motor Spirit (petrol) imported into Nigeria has increased to N186.33 per litre. The Economic Confidential had reported on February 9 that...

Crude Oil Price Rises Above $61         The international oil benchmark, Brent crude, rose further on Tuesday, trading above $61 per barrel. Brent had hit the $60 per barrel mark on Monday for the first in more than a year. The further rise in oil prices comes amid...