Trump had raised security concerns about TikTok’s entry into the United States.
Brent crude futures gained 1.46% while West Texas Intermediate (WTI) rose 0.91% to trade at $41.81.
This shows that China is not a major source of funding for the Nigerian Government.
The dollar’s rise to a near two-week high in the previous session subdued gold’s advance.
Agreements have been easier to reach with Chinese lenders than with private creditors.
Currency traders remained optimistic about the dollar, despite its recent pullbacks.
China is also willing to give priority to Africa once the COVID-19 vaccines are ready for use.
The trade imbalance between the two countries heavily gives China an advantage.
The Minister stated that China had assisted Nigeria by disbursing cash to fund infrastructure in the country.
Note that OPEC members usually take a decision on their plans for oil trade for the month of July in the first week of June, so...