Higher Oil Prices Increase External Reserves By $409m The country’s external reserves returned to a growth path as it gained $409m in two weeks, latest figures from the Central Bank of Nigeria disclosed on Monday. According to the CBN’s figures on movement of reserves, the...

Brent Hits $64 On Oil Supply Curtailment     Brent oil price jumped further yesterday, spurred by curtailed supplies in the southern United States (U.S.) state of Texas caused by extremely cold weather conditions. International benchmark Brent crude traded at $64.38 per barrel after closing Wednesday at $63.35...

Oil Price Hits $60, Highest In Over 12 Months         The international oil benchmark, Brent crude, extended its rebound on Monday, hitting the $60 per barrel mark for the first since the extent of the COVID-19 pandemic became clear. The further rise in oil prices comes amid...

OPEC+ Optimistic About Recovery As Oil Price Nears $59         The international oil benchmark, Brent crude, rose further on Wednesday, trading near $59 per barrel. Oil prices were boosted by a drawdown in the United States crude and petrol stocks that added to demand recovery hopes fueled...

Oil Price Rises Above $57, Highest In 12 Months         The international oil benchmark, Brent crude, rose more than two per cent on Tuesday, hitting a 12-month high after major crude producers showed they were reining in output roughly in line with their commitments. Brent crude, against...

Oil Prices Rise To $56 On New US Stimulus Prospects       Oil prices rose for a second consecutive day on Wednesday, as the market expects the new United States administration to ‘act big’ in the next COVID-19 relief package. As of 9:17 a.m. ET on Wednesday, the...