Oil drilling rigs Barclays on Thursday said it raised its Brent oil price forecast by $6 to $72 per barrel for 2025 and by $10 to $70 a barrel for 2026 on an improved outlook for demand, Reuters reported. “Geopolitical tensions have eased as the US.-mediated ceasefire between Israel and Iran continues to hold and […]
Barclays raises Brent forecast to $72/brl for 2025 Read More »
Irina Slav Irina is a writer for Oilprice.com with over a decade of experience writing on the oil and gas industry. More Info By Irina Slav – Jul 04, 2025, 1:25 AM CDT Crude oil prices were on course for a modest weekly gain today, buffeted by both headwind and tailwinds, including OPEC+ policy, U.S.
Oil Prices Set to End the Week With a Modest Gain Read More »
The International Monetary Fund (IMF) expects the gulf between this year’s budgetary spending and revenue of Africa’s biggest oil producer to widen further in the face of geopolitical threats to the prices of crude, which contributes around two-thirds of government income. Oil has been hit by a mix of shocks since January, including Donald Trump’s
IMF warns Nigeria of increased budget deficit as oil prices fall Read More »
In many parts of Nigeria, when night falls, darkness takes over. Millions of families still rely on candles, kerosene lamps, or even firewood for lighting and cooking. For businesses, power cuts are so common that many rely on noisy, expensive generators to keep going. The lack of reliable electricity is more than an inconvenience; it’s
Power to prosper: How energy transition can reduce poverty in Nigeria Read More »
Oil prices plunged Tuesday morning after President Donald Trump secured a ceasefire between Iran and Israel, bringing an abrupt end to a conflict that had threatened to ignite a wider regional war. The markets responded with enthusiasm—Brent crude dropped decisively below the $70 mark, a move that signals both geopolitical relief and a potential windfall
Peace Dividend: Oil Market Celebrates Trump-Brokered Peace as Prices Drop Below $70 Read More »
Crude Oil Global Crude Oil Prices Decline by 3% Your browser does not support the video tag. 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. Crude oil
Global Crude Oil Prices Decline by 3% Read More »
U.S. oil prices retreated from weekly highs as markets assessed the potential for a reprieve in Middle East turmoil following a week of escalating tensions. The U.S. crude oil price benchmark, West Texas Intermediate, fell 8% to less than $68 a barrel, the lowest level since last week. The global Brent crude price benchmark likewise
Oil prices show muted gains as world awaits Iranian response to U.S. strikes Read More »
The volatility of crude oil prices in the international market has had a negative impact on Nigeria’s downstream oil sector, with importers and depot operators raising petrol prices to between N905 and N940 per litre. In contrast, Dangote Petroleum Refinery has maintained its ex-depot price at N825 per litre. According to data gathered, Rainoil increased
Crude Price Surge: Importers, Depots Hike PMS to N940, Dangote Maintains at N825/L Read More »
By Irina Slav – Jun 20, 2025, 2:10 AM CDT Citi predicts oil prices could rise by up to 20% with a 1.1 million bpd disruption, but sees OPEC’s spare capacity as a stabilizer. ING forecasts Brent could surge to $120 per barrel if major supply issues occur, citing proximity of reserves to conflict zones.
How High Will Oil Prices Go on a Middle East Supply Disruption? Read More »
By Irina Slav – Jun 20, 2025, 1:11 AM CDT Crude oil prices are set for a third consecutive weekly gain due to ongoing hostilities between Israel and Iran. The conflict has significantly increased tanker rates and vessel insurance, leading many shippers to avoid the Strait of Hormuz. The potential for US involvement in the
Oil Prices Climb for Third Straight Week Read More »
