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Oil prices rose on Monday despite OPEC+ confirming at its Sunday meeting that it will wind down more than 1 million barrels per day of extra voluntary cuts over the next two months. At 9:34 a.m. ET on Monday, West Texas Intermediate (WTI) was trading up 1.65% at $62.89 per barrel, while Brent was up 1.74%…
September 8, 2025
Crude oil prices were on course to end the week with a loss, with the decline starting on Wednesday and extending into Friday, reversing a string of gains that lasted two weeks. At the time of writing, Brent crude was trading at $66.88 per barrel, with West Texas Intermediate at $63.34 per barrel, as oil traders anticipated the global…
September 5, 2025
Crude oil prices stabilized today after inching up on Tuesday following the news of new U.S. sanctions on people involved in exporting Iranian crude disguised as Iraqi crude. At the time of writing, Brent crude was trading at $68.93 per barrel and West Texas Intermediate was trading at $65.42 per barrel, both slightly down from opening. On Tuesday, the…
September 3, 2025
U.S. policies Weigh in on market By Obinna Uballa Oil prices rose on Tuesday amid growing concerns over Russian supply disruptions and uncertainty surrounding United States trade and monetary policies. Brent futures for November delivery traded at $69.46 per barrel at 10:54 a.m. Nigerian time, up 1.92% from Monday’s close. The October Nymex WTI contract…
September 2, 2025
Crude oil will continue to be in demand for a very long time yet, the chief executive of Chevron, Mike Wirth, told the New York Times in an interview. Asked about his take on International Energy Agency predictions of peak oil demand, Wirth said that “First of all, the I.E.A. has not always been right,…
September 1, 2025
U.S. crude oil production hit a new record in June at 13.58 million barrels per day, according to the Energy Information Administration’s latest Petroleum Supply Monthly. That’s 133,000 barrels more than May and 2.5 percent higher than a year ago. The new monthly figures also show a sharp disconnect from the EIA’s weekly estimates. For…
August 30, 2025
Crude oil prices were set for another weekly rise after additional 25% tariffs on Indian exports to the United States kicked in on Wednesday, raising doubts about the supply of Russian crude. At the time of writing, Brent crude was trading at $68.17 per barrel, with West Texas Intermediate at $64.20 per barrel, both slightly down from Thursday’s close…
August 29, 2025
By Obinna Uballa Cross River State holds vast untapped natural resources, including an estimated 35 trillion cubic feet (TCF) of gas and extensive solid mineral deposits, the Group Chief Executive Officer of Pana Holdings, Dr. Daere Akobo, has disclosed. Akobo made the revelation during the signing of a strategic partnership agreement between the Cross River…
August 26, 2025
By Obinna Uballa The Group Chief Executive Officer of the Nigerian National Petroleum Company Limited (NNPCL), Mr Bashir Bayo Ojulari, has countered Africa’s richest man, Aliko Dangote, over the future of Nigeria’s government-owned refineries. While Dangote recently cast doubt on the viability of the Port Harcourt, Warri, and Kaduna refinerie, stating they may never work…
August 21, 2025
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Oil prices rose on Monday despite OPEC+ confirming at its Sunday meeting that it will wind down more than 1 million barrels per day of extra voluntary cuts over the next two months. At 9:34 a.m. ET on Monday, West Texas Intermediate (WTI) was trading up 1.65% at $62.89 per barrel, while Brent was up 1.74%…
September 8, 2025
Crude oil prices were on course to end the week with a loss, with the decline starting on Wednesday and extending into Friday, reversing a string of gains that lasted two weeks. At the time of writing, Brent crude was trading at $66.88 per barrel, with West Texas Intermediate at $63.34 per barrel, as oil traders anticipated the global…
September 5, 2025
Crude oil prices stabilized today after inching up on Tuesday following the news of new U.S. sanctions on people involved in exporting Iranian crude disguised as Iraqi crude. At the time of writing, Brent crude was trading at $68.93 per barrel and West Texas Intermediate was trading at $65.42 per barrel, both slightly down from opening. On Tuesday, the…
September 3, 2025
U.S. policies Weigh in on market By Obinna Uballa Oil prices rose on Tuesday amid growing concerns over Russian supply disruptions and uncertainty surrounding United States trade and monetary policies. Brent futures for November delivery traded at $69.46 per barrel at 10:54 a.m. Nigerian time, up 1.92% from Monday’s close. The October Nymex WTI contract…
September 2, 2025
Crude oil will continue to be in demand for a very long time yet, the chief executive of Chevron, Mike Wirth, told the New York Times in an interview. Asked about his take on International Energy Agency predictions of peak oil demand, Wirth said that “First of all, the I.E.A. has not always been right,…
September 1, 2025
U.S. crude oil production hit a new record in June at 13.58 million barrels per day, according to the Energy Information Administration’s latest Petroleum Supply Monthly. That’s 133,000 barrels more than May and 2.5 percent higher than a year ago. The new monthly figures also show a sharp disconnect from the EIA’s weekly estimates. For…
August 30, 2025
Crude oil prices were set for another weekly rise after additional 25% tariffs on Indian exports to the United States kicked in on Wednesday, raising doubts about the supply of Russian crude. At the time of writing, Brent crude was trading at $68.17 per barrel, with West Texas Intermediate at $64.20 per barrel, both slightly down from Thursday’s close…
August 29, 2025
By Obinna Uballa Cross River State holds vast untapped natural resources, including an estimated 35 trillion cubic feet (TCF) of gas and extensive solid mineral deposits, the Group Chief Executive Officer of Pana Holdings, Dr. Daere Akobo, has disclosed. Akobo made the revelation during the signing of a strategic partnership agreement between the Cross River…
August 26, 2025
By Obinna Uballa The Group Chief Executive Officer of the Nigerian National Petroleum Company Limited (NNPCL), Mr Bashir Bayo Ojulari, has countered Africa’s richest man, Aliko Dangote, over the future of Nigeria’s government-owned refineries. While Dangote recently cast doubt on the viability of the Port Harcourt, Warri, and Kaduna refinerie, stating they may never work…
August 21, 2025
