The prices of crude oil in the international market rose by two per cent Wednesday after a surprise drop in crude stockpiles reported by the United States Government for a third week in a row. Brent crude futures were up 1.8 per cent Wednesday to...

Vice-President Yemi Osinbajo says Nigeria has been losing one million barrels of crude oil daily in the last six months due to the activities of pipeline vandals. Osinbajo, who is the head of President Muhammadu Buhari’s economic team, disclosed this while receiving a delegation of...

Oil prices jumped as much as 3 percent on Monday amid renewed speculation that OPEC would try to restrain output, easing oversupply worries that had sent the market to three-month low last week. International benchmark Brent futures were trading at $45.41 per barrel at 12:46...

Nigeria was confronted with the prospect of double jeopardy monday, when Anglo-Dutch oil multinational, Shell, confirmed that suspected militants believed to be from the Niger Delta attacked its Trans Ramos Pipeline (TRP) in Delta State on Saturday night. This came as concerns mounted over oil...

Oil prices eased in Asia Monday as an increase in US drilling activity and a strong dollar reversed gains from last week’s better-than-forecast US jobs report. The commodity eked out modest gains Friday after data showed the world’s top economy created 287,000 jobs in June...

Oil prices pushed higher today thanks to a softer dollar after last week’s disappointing US jobs report, but gains were limited as producers increased their rig count. The US Labor Department said Friday that just 38,000 new jobs were created last month, a quarter of...