Nigeria, Africa’s top oil producer, is facing a worrying scenario as a large volume of its crude oil remains unsold just weeks before scheduled shipments. With over 80 million barrels of oil — including popular blends like Bonny Light, Forcados, Qua Iboe, and Escravos — still searching for buyers for April and May 2025, the…
Oil prices edged lower on Thursday after a strong rally the previous day, as fears over escalating trade tensions and their potential impact on global economic growth outweighed bullish inventory data from the United States. Brent crude futures slipped by 7 cents (0.1%) to $70.88 per barrel by 0107 GMT, while U.S. West Texas Intermediate…
Oil prices declined on Monday as concerns over the impact of U.S. import tariffs on global economic growth and fuel demand weighed on the market. Additionally, rising output from OPEC+ producers added further pressure on prices. Brent crude saw a slight drop of 6 cents, settling at $70.30 per barrel by 07:20 GMT after a…
Global markets reacted sharply as tensions between the United States and China flared up once again. With both nations imposing fresh tariffs, stocks tumbled, oil prices dropped, and investors braced for more economic uncertainty. Stock futures fell following China’s swift response to the latest round of US tariffs. S&P 500 futures declined, while Nasdaq 100…
