Petrol prices have surged to about ₦1,080 per litre in parts of Lagos amid ongoing tensions in the Middle East that have pushed crude oil prices higher in the international market. A market survey across several filling stations in Lagos on Saturday showed that the price of Premium Motor Spirit (PMS), popularly known as petrol, […]
Petrol hits ₦1,080 per litre in Lagos Read More »
This photographe shows prices at a petrol station in Istanbul on March 6, 2026 as fears have grown of a possible inflationary wave as war in the Middle East sends energy prices shooting upwards. — AFP pic (New users only) Unlock 5.5%* + 10%* p.a. promo rate for 3 months via Versa and enjoy FREE
Oil prices surge as Middle East war escalates as global stocks fall on weak US jobs data Read More »
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Oil surge sparks Treasury market’s worst weekly rout since ‘liberation day’ chaos Read More »
NEW YORK/LONDON, March 6 (Reuters) – Stocks sank on Friday as the U.S.-Israeli war against Iran drove oil prices sharply higher, while an unexpected loss of U.S. jobs in February increased hopes for Federal Reserve rate cuts but did little to cheer investors worried about economic weakness. Trading was choppy in currencies and U.S. Treasuries
Stocks Slide As Oil Price Fears, U.S. Jobs Data Rattle Markets Read More »
Goldman Sachs stated that there is little confidence that US security measures to protect oil and gas tankers in the Strait of Hormuz will resolve the situation, warning that oil prices could rise above $100 per barrel if disruptions persist. Samantha Dart, Co-Head of Global Commodities Research at the bank, told Bloomberg that there are
Brent crude could exceed $100 if Hormuz disruptions persist: Goldman Sachs Read More »
Oil drilling rigs Oil prices declined on Friday but are still on track to record their largest weekly gains since 2022, driven by concerns over supply disruptions amid the conflict in the Middle East. Brent crude futures for May delivery fell 0.82%, or $0.70, to $84.71 per barrel as of 08:52 a.m. Makkah time, though
Oil prices fall, on track for biggest weekly gain since 2022 Read More »
China’s government has told the country’s largest oil refiners to suspend exports of diesel and gasoline as an escalating conflict in the Persian Gulf disrupts the arrival of crude from one of the world’s largest producing regions. Officials from the National Development and Reform Commission, the country’s top economic planner, met refinery executives and verbally
China tells top refiners to suspend diesel and gasoline exports Read More »
The dollar index (DXY00) rose by +0.61% on Tuesday and posted a 3.25-month high. The dollar extended Monday’s rally on Tuesday after oil prices soared to an 8.5-month high, boosting inflation expectations and reducing the chance of additional Fed rate cuts, a supportive factor for the dollar. Market expectations for Fed easing have fallen, with
Dollar Strengthens as Fed Rate Cut Chances Dim Read More »
The Indian Rupee (INR) declines against the US Dollar (USD), extending its losing streak for the fifth successive session. The USD/INR pair reached a fresh record high of 92.67 during the Asian hours on Wednesday. Traders expect the Reserve Bank of India (RBI) to sell dollars to avert steeper rupee losses. The INR faces challenges
USD/INR reaches fresh highs as Indian Rupee struggles on higher Oil prices Read More »
As geopolitical instability ripples through the Middle East, the Kenyan government says it is taking a firm stance to protect the local economy from potential energy shocks. Energy and Petroleum Cabinet Secretary Opiyo Wandayi has moved to calm public anxiety, confirming that the nation’s fuel taps will remain open despite the brewing global crisis. CS
CS Wandayi Reveals Kenya’s Fuel Security Plan as Global Oil Prices Face Pressure Read More »
