• BREAKING: Oil price crashes to $33, loses $11 in hours

    BREAKING: Oil price crashes to $33, loses $11 in hours0

    The international oil benchmark, Brent crude, which stood at $45.72 per barrel on Sunday, has slumped to $33 per barrel. Oil prices suffered an historic collapse overnight after Saudi Arabia shocked the market by launching a price war against onetime ally Russia. Brent, against which Nigeria’s crude is priced, fell by $11.62 to $33.45 as

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  • Oil prices jump after reports on coronavirus drug

    Oil prices jump after reports on coronavirus drug0

    Oil prices jumped by four per cent on Wednesday on media reports that scientists had developed a drug against the fast-spreading coronavirus, an outbreak that continues to weigh heavily on global economic activity and oil demand. The World Health Organisation played down the media reports, saying there were “no known effective therapeutics” against the virus.

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  • Oil prices fall on weak global economic data

    Oil prices fall on weak global economic data0

    Oil prices fell on Wednesday on weak global economic data and a rise in the US crude inventories, almost erasing the previous session’s strong gains which followed the United States’ move to delay tariffs on some Chinese products Brent crude was down $1.81, or three per cent, at $59.49 a barrel at 1323 GMT, after

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