Audio By Vocalize Petroleum prices remain unchanged in December EPRA review. [File, Standard] Motorists will now pay less at the pump after the Energy and Petroleum Regulatory Authority (EPRA) announced fresh cuts to fuel prices in the latest monthly review. The price of super petrol has dropped by Sh4.24 per litre, diesel by Sh3.93, and […]
Relief at the pump as fuel prices drop Read More »
By Charles Kennedy – Feb 12, 2026, 10:30 AM CST The sanctions squeeze on oil supply from Russia and Iran are tightening the oil market and supporting crude prices as buyers look for additional legit barrels while sanctioned supply is piling in floating storage, according to the world’s biggest independent oil trader, Vitol. “The
Top Trader Sees Sanctions Tightening Market and Lifting Oil Prices Read More »
TLDR BP suspended share buybacks to strengthen its balance sheet as oil prices remain under pressure from oversupply concerns. The British energy company reported Q4 profit of $1.54 billion, matching forecasts but down from $2.21 billion in Q3. Shares fell 5.4% in London trading after the buyback suspension announcement, with U.S. shares down 6% pre-market.
BP Stock Drops 5% as Company Suspends Share Buyback Program Read More »
By Tsvetana Paraskova – Feb 06, 2026, 6:30 AM CST Ahead of the U.S.-Iran nuclear talks on Friday, Tehran signaled that the negotiations will likely be a long process, dashing hopes of a quick and more sustainable de-escalation of tensions in the key oil-producing Middle Eastern regions. Oil prices initially rose early on Friday
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By Irina Slav – Feb 06, 2026, 1:11 AM CST Crude oil prices were set for their first weekly decline since the start of the year as the risk of a direct military confrontation between the United States and Iran de-escalated. At the time of writing, Brent crude was trading at $68.09 per barrel, and
Oil Prices Set for First Weekly Dip of the Year Read More »
By Alex Kimani – Feb 05, 2026, 7:00 PM CST Oil prices fell sharply as geopolitical risk eased after Iran confirmed upcoming talks with the U.S. in Oman. Despite the pullback, Standard Chartered says oil market sentiment is improving, pointing to a strengthening Brent forward curve, declining U.S. inventories, slowing shale growth, and rising 2026
StanChart: Oil Market Rebalances as Oversupply Fears Fade Into 2026 Read More »
Pumpjacks draw out oil and gas from well heads as wildfire smoke hangs in the air near Calgary on May 12, 2024. Photo by Jeff McIntosh /The Canadian Press via AP Article content North American oil prices fell sharply on Monday after tensions between the United States and Iran appeared to ease, lowering the risks of
March WTI crude oil (CLH26) on Friday closed down -0.21 (-0.32%), and March RBOB gasoline (RBH26) closed up +0.0069 (+0.36%). Crude oil prices gave up an early advance and turned lower after President Trump ratcheted down the war rhetoric over Iran and said he had overnight discussions with Iran and indicated he expected them to
Crude Prices Falter as President Trump Dials Down Rhetoric on Iran Read More »
With Brent crude trading around $69 per barrel above Nigeria’s 2026 federal budget benchmark of $64.85, the price rally would largely bolster the country’s fiscal revenues, foreign exchange reserves and promote exchange rate stability. Analysts posit that a full-scale conflict disrupting the Strait of Hormuz—a chokepoint for about 20 per cent of global oil flows
Oil Prices Rally Brightens Naira, CBN Foreign Reserves’ Prospects Read More »
By Julianne Geiger – Jan 30, 2026, 1:30 PM CST The European Union is quietly preparing to take a much bigger swing at Russia’s oil trade. And this time, Brussels is aiming less at price optics and more at enforcement reality. The EU is reportedly weighing whether to scrap its Russian oil price cap altogether
EU Weighs Scrapping Russia Oil Price Cap for Harder Sanctions Read More »
