Oil Price Rises To $40   Oil prices rose more than two per cent on Tuesday, supported by hurricane supply disruptions in the United States, but demand concerns loomed as energy industry forecasters predicted a slower-than-expected recovery from the pandemic. Brent crude gained 92 cents, or 2.3...

Oil Drops To $39, Nigeria’s Output Rises     The international oil benchmark, Brent crude, fell below the $40 per barrel mark on Monday, amid demand worries, as the Organisation of the Petroleum Exporting Countries further cut its outlook for demand growth. Nigeria, Africa’s biggest oil producer, said...

Oil Slides After Saudi Price Cuts     Oil prices dropped on Monday after earlier hitting their lowest since July as Saudi Arabia made the deepest monthly price cuts for supply to Asia in five months. Optimism about demand recovery also cooled amid the coronavirus pandemic. Brent crude...

Brent Crude Hits Five-Month High At $46     The international oil benchmark, Brent crude, nudged up on Monday, posting its fifth straight monthly gain, as global stimulus measures underpin prices even as demand struggles to return to pre-COVID levels in a well-supplied market. Brent crude futures for...

Oil, Gas Stocks Record N56bn Loss In One Month     Oil and gas firms listed on the main and premium boards of the nation’s equity market reported a loss of about N56.19bn last month as spending in transportation declined considerably over coronavirus pandemic. Checks by our correspondent...

Stocks Rise To 8-week High As Oil Prices Gain 1.5 %     Nigerian stocks climbed eight-week high on Wednesday, lifted by gains in shares of energy companies after global oil prices rallied. Recovering from a two consecutive days of losses this week, the main share index rose...