LAGOS MAY 6TH (NEWSRANGERS)-Oil prices tumbled on Monday after U.S. President Donald Trump said he would sharply hike tariffs on Chinese goods this week, risking the derailment of trade talks between the world’s two biggest economies. U.S. West Texas Intermediate (WTI) crude futures were at $60.57 per barrel at 0646 GMT on Monday, down $1.37…
LAGOS DECEMBER 28TH (NESRANGERS)-More indications that the implementation of the 2019 financial estimates presented to the National Assembly by President Muhammadu Buhari, a couple of weeks ago, may be difficult emerged yesterday as oil price slumped to $49.9 before it recovered to $51 later in the day. The slide was the lowest since July 2017…
LAGOS SEPTMBER 5TH (NEWSRANGERS)-World oil consumption will reach 100 million barrels per day (bpd) later this year, hitting that level much sooner than previously forecast, OPEC’s secretary-general said on Wednesday. Mohammad Barkindo also told an energy conference in South Africa’s Cape Town that a stable environment was needed to encourage oil industry investment to meet…
LAGOS APRIL 16TH (NEWSRANGERS)-The price of oil fell sharply on Monday as traders started to see a decreased likelihood of further escalation between Western powers and Syria, following Friday night’s air strikes on the conflict-stricken nation. Both major oil benchmarks have fallen on Monday morning. Brent oil — the international benchmark — is down 1.36%…