The reports read that that Brent Crude futures plunged by 1.61 percent to $73.41 per barrel at 4:09 pm, while U.S. West Texas Intermediate (WTI) crude futures dipped by 1.58 percent to $70.80 a barrel.
Recall that international oil price rose above $75 per barrel last Friday amid ease in Omicron concerns that increasing immobility and impending lockdown would lower oil demand.
In its latest monthly oil market report, the Organisation of Petroleum Exporting Countries { OPEC } had forecast that the Omicron variant of the coronavirus would have a slight effect on oil demand.
The group noted that improved COVID-19 management and rising vaccination rates, enabling economic activity and mobility to return to pre-pandemic levels, supporting transportation fuels, in particular, would determine the increase in demand for crude oil.
Mixed reactions have trailed the proposal of ₦615,000 made by organised labour as minimum wage… Read More
Shareholders associations in Nigeria have expressed support for plans by Nigerian Breweries Plc to raise… Read More
NGOMA, Rwanda, 2nd May 2024-/African Media Agency (AMA)/-On April 30, BGI Genomics and the Rwanda… Read More
As talks about reviewing the minimum wage for Nigerian workers continue, economic analysts have underscored… Read More
Ford Foundation civil society partners, with support from the Ford Foundation, have convened a pivotal… Read More
LAGOS, Nigeria, 2nd May 2024 /African Media Agency (AMA)/- Telecommunications experts across West Africa have… Read More
This website uses cookies.