Tag
CRUDE OIL
Since Russia began its special military operation in Ukraine, the United States and other European nations have been...
A fire that engulfed the Zaporizhzhia power plant in Enerhodar, Ukraine, following an attack and capture by Russian forces caused Friday's trading to be volatile.
Higher projections are anticipated due to the ongoing Russia-Ukraine tension, which has already further driven up international crude oil prices.
As crude's blistering rally continues, U.S. oil exceeded $111 per barrel in Wednesday's trading and Brent topped $110 per barrel.
The price of oil fell on Friday after rising sharply early in the session due to concerns about potential global supply disruptions caused by sanctions against Russia.
The Minister of State for Petroleum has disclosed that a much more comfortable oil price range for Nigeria would be between $70-$80.
Prices of oil for the two major benchmarks have rallied more than $2 on Tuesday as investors worry about supply disruption.
Brent oil is struggling to stay above the $90 support zone as Joe Biden and Vladimir Putin have agreed in principle to a summit over Ukraine.
The black liquid is down at the start of the London session on Thursday.
The exchange rate between the naira and the US dollar closed at N416.5/$1 at the official Investors and Exporters (I&E) window.
All eyes are now on the weekly U.S. oil inventories data from the Energy Information Administration (EIA) due later today.
Oil prices hit their highest level in more than seven years in the Asian session today.