LAGOS APRIL 21S (NEWSRANGERS)-U.S. oil prices plummeted in historic fashion Monday, crashing below zero as traders unloaded positions ahead of the May contract’s Tuesday expiration. West Texas Intermediate crude oil futures for May delivery cratered by 305 percent to -$36.73 a barrel. At a price below zero, buyers would be paid to take delivery as there are costs…
LAGOS FEBRUARY 4TH (NEWSRANGERS)-The international oil benchmark, Brent crude, plummeted to its lowest level in more than a year on Monday, trading below the Federal Government’s benchmark for the 2020 budget, as the coronavirus outbreak hit fuel demand in China. The 2020 budget, which was signed by the President, Major General Muhammadu Buhari (retd.), in…
LAGOS DECEMBER 28TH (NEWSRANGERS)-Zambian President Edgar Lungu cut his salary and those of senior cabinet ministers Friday, as higher electricity and fuel prices take effect, his office said. The price of petrol gained 10 percent to 17.62 kwacha ($1.27) per litre on Thursday, while that for diesel fuel rose by 9.6 percent to 15.59 kwacha….
LAGOS DECEMBER 5TH (NEWSRANGERS)-Pirates boarded a fully loaded supertanker off the coast of Nigeria, an act that is sure to ring alarm bells for insurers about the risk of collecting oil from Africa’s biggest producer. Nineteen crew were kidnapped and remain missing, a spokeswoman for Navios, the ship’s owner said by phone Wednesday. The incident…