Oil Price Rises Towards $70

Hamilton Nwosa
Writer
new-diplomat default image
new-diplomat default image

Ad

The Controversial East African Crude Oil Pipeline Is Nearing Completion

The East African Crude Oil Pipeline (EACOP), 64.5% complete, will connect Uganda’s oilfields to Tanzania’s Port of Tanga for global crude exports. Despite $3.6 billion already spent and new financing secured, the project continues to face backlash from human rights groups and environmental activists. Critics cite displacement of communities and threats to ecosystems, while developers…

Shell Reports 51 Leaks In Niger Delta This Year

2027: Amaechi Vows to Defeat Tinubu if He Wins ADC’s Presidential Ticket

• Accuses APC of diverting public funds for elections... By Abiola Olawale  Former Minister of Transportation and two-term governor of Rivers State, Rotimi Amaechi, has asserted that he would defeat President Bola Tinubu in the 2027 Nigerian presidential election if he wins the presidential ticket of the Action Democratic Congress (ADC). Speaking during a Twitter…

Countries With the Most Seniors (2025-2100P)

European nations currently lead as countries with the most people aged 65+, but their increases through the century are projected to be slower and less extreme. On the other hand, China is projected to move from outside the top ranks in 2025 to the world’s 3rd most senior-heavy population by 2100. The world has entered…

Ad

Oil markets climbed on Monday on the back of a drop in the number of United States rigs drilling for more production and as the U.S. economy continued to create jobs, which industry hopes will drive higher fuel demand.

Brent sweet crude was at 65.70 dollars per barrel, up 21 cents, or 0.3 per cent, from their previous close.

“A falling rig count and the strong employment data may have helped support prices,” said William O’Loughlin, investment analyst at Rivkin Securities.

The U.S. economy added the biggest number of jobs in more than 1-1/2 years in February, with non-farm payrolls jumping by 313,000 jobs last month, the Labor Department said on Friday.

In oil markets, U.S. energy companies last week cut oil rigs for the first time in almost two months RIG-OL-USA-BHI, with drillers cutting back four rigs, to 796, Baker Hughes (GE.N) energy services firm said on Friday.(Reuters/NAN)

Ad

X whatsapp