The worst-case oil scenario has been avoided, but inflation and slower growth continue to weigh on the global economy. More than 100 days into the Iran conflict, 20 percent of the world’s energy flows remain disrupted, with the scenario described as the biggest supply shock in history. For now, the nightmare scenario has been avoided….
The price of crude oil has risen to over $100 per barrel from $90 in the global market, following the collapse of talks between the United States and Iran over the weekend. Crude oil prices had dropped to $90 per barrel from $100 last week, as market watchers anticipated that the talks would culminate in…
There is anxiety that Nigerians may continue to pay more for Premium Motor Spirit, PMS, also known as petrol alongside Automotive Gas Oil, called diesel as the price of crude oil rose to above $100 per barrel, yesterday. Many Nigerians had looked forward to lower fuel energy cost, following a drop on Wednesday to $92,…
Global oil prices have surged past $100 per barrel for the first time in over five years as the escalating conflict involving the United States, Israel and Iran disrupts supplies through the Strait of Hormuz. The price of Brent crude has jumped to $109.18 per barrel, crossing the $100 mark for the first time in…
