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 »
Oil prices were steady on Friday, but recorded their first monthly gains in six months, as investors assessed global supply prospects amid ongoing geopolitical volatility. Benchmark Brent crude futures for March delivery — which expired today — settled unchanged at $70.69 per barrel, maintaining weekly gains of 7.30% and surging 16.17% over January. Meanwhile, WTI
Oil prices unchanged, record monthly gains of over 16% Read More »
The pump price of Premium Motor Spirit (petrol) could rise to as much as N1,000 per litre in the coming days following a fresh increase in crude oil prices on the global market. Petroleum marketers said the recent jump in international crude prices above $70 per barrel may lead to another round of price adjustments
Why petrol price may climb to N1,000/litre soon 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 »
VW has no intention of retiring the Golf GTI or the Golf R. The Golf R may receive a more powerful engine. An electric Polo GTI debuts this year. The gas-fueled Polo GTI is still available in Europe. Hot hatches may have been born in Europe during the 1970s, but the EU’s stricter emissions regulations
Volkswagen Commits Long-Term To Gasoline Hot Hatches Read More »
Crude oil inventories in the United States decreased by 2.3 million barrels during the week ending January 24, according to new data from the U.S. Energy Information Administration (EIA) released on Wednesday. The decrease brings commercial stockpiles to 423.8 million barrels according to government data, which is 3% below the five-year average for this time
Oil prices continue to rise as US crude oil inventories drop Read More »
Barely three days after an upward review of petrol pump prices, Nigerians may soon contend with another increase as international crude oil prices continue their upward trajectory. Nigeria’s Bonny Light crude climbed to $70.30 per barrel, up from $64 per barrel recorded last week, marking an increase of about 10 per cent and the highest price level so far this
Petrol prices set to rise again as global crude oil market surges Read More »
West Texas Intermediate (WTI) Oil price depreciates after three days of gains, trading around $64.00 per barrel during the Asian hours on Friday. However, WTI stayed on track for roughly 12% monthly gains, underpinned by a rising geopolitical risk premium. Geopolitical risks stayed elevated after Iran warned it would “defend itself and respond like never
WTI declines to near $64.00 despite elevated geopolitical risks Read More »
