oil price

  1. RemmyAlex

    Business Oil Extends Gains in Asia After US Output Falls to 18-Month Low

    Oil prices gained momentum Thursday after data showed US production fell to 18-month lows as Iraq pushed for a fresh meeting of crude majors on limiting output. The advances come just days after the collapse of weekend talks aimed at negotiating an output freeze, which had fuelled worries a...
  2. RemmyAlex

    Business Oil Price Dips Slightly Ahead of Doha Meeting

    Oil prices fell in volatile trade on Friday as investors brace for a meeting between major producers, who are scheduled to discuss a potential production freeze this weekend.. On the New York Mercantile Exchange, light, sweet crude futures for delivery in MayCLK6, -2.10% fell $0.84, or 2%, to...
  3. RemmyAlex

    Business Crude Oil Benchmark Falls Below $40 Per Barrel

    Global oil benchmark, Brent crude, fell on Tuesday, reflecting growing concerns that a two-month rally might be fading, as supply looked set to keep rising and there appeared to be little immediate prospect of demand keeping pace. It fell by $1.27, or 3.15 per cent, to $39 per barrel, while the...
  4. RemmyAlex

    Business Oil Price Slides, Strong Dollar Drags Asian Shares Lower

    Oil prices slide while a stronger dollar piled on pressure on commodity producers as Asian shares dropped on Thursday, with energy stocks taking a hammering from the results, Bloomberg reports. Equity markets across the region ended lower and European bourses dropped in early trading after US...
  5. RemmyAlex

    Business Oil Price Dips As Market Reacts Calmly to Brussels Attacks

    Oil prices dipped Wednesday as traders reacted calmly to the Brussels attacks and kept their eye on global oversupply ahead of a crucial producers’ meeting in Qatar next month. At around 0600 GMT, US benchmark West Texas Intermediate for May delivery was down 52 cents at $40.93 while Brent for...
  6. RemmyAlex

    Business Oil Price Climbs 3-Months High at $41.43 Per Barrel

    Oil prices rose yesterday with benchmark Brent prices hitting a three-month high on hopes for a coordinated approach by major producers to support prices. Brent crude futures were trading at $41.43 a barrel at their highest since Dec. 9, up 59 cents on the day. On Monday, the contract had...
  7. RemmyAlex

    Business Oil Price Rises Above 2016 Budget Benchmark

    Global crude oil prices finally surpassed Nigeria’s budgetary benchmark on Monday, trading above $39 per barrels. The price of Brent crude – the global oil benchmark – rose an all-year high at $39.50 on Monday, from $27.10 on January 20, the lowest for Brent in 2016, theCable reports. Last...
  8. RemmyAlex

    Business Oil Prices: Saudi Arabia and Russia Agrees To Freeze Crude Oil Output

    Saudi Arabia and Russia have agreed to freeze oil output in a meeting in Qatar. Ali al-Naimi, the Saudi Arabian oil minister met with Alexander Novakin Doha, his Russian counterpart, and representatives from Venezuela and Qatar in Doha on Tuesday where they agreed a freeze in the oil production...
  9. RemmyAlex

    Business Crude Oil Price Rises After Russia Agree to OPEC Talks

    The price of crude oil rose, today, Wednesday, after fresh comments from Russia about its openness to talk with OPEC over output cut Russian Foreign Minister Sergei Lavrov said if there is consensus among the Organization of the Petroleum Exporting Countries and non-OPEC members to meet, “then...
  10. RemmyAlex

    Politics Nigeria: 3 Ugly Things That Always Occur in Buhari's Administration

    Since inception of president Buhari's administration last year, it seems most of the occurrence that happened during his era as Military head of state are coming into play again. Litle wonders, The Economists, last week, aid the President is repeating the same mistake he made while he was the...
  11. RemmyAlex

    Business Oil Prices Crash To $38 For First Time Since 2009

    Crude oil prices continued at a six and a half year low on Tuesday, as the Organisation of Petroleum Exporting Countries (OPEC) basket price fell to $38.18 per barrel, one of its lowest since 2009. The basket price, which is calculated as an average of 12 crude oil variants sold by OPEC...
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