oil prices

Oil price shifts reshape African economies, spotlighting challenges and opportunities for growth, trade, and energy diversification.

Oil prices are steady despite a surprise gasoline stock build and concerns about Federal Reserve rate cuts, while OPEC+ considers output delays

Angola’s Cabinda refinery is set to boost energy independence, reducing reliance on fuel imports with operations starting in April 2025

Oil prices dropped by nearly $4 as Israel showed restraint on striking Iran, easing concerns about supply disruptions and bringing temporary market relief

Oil prices are set to fall as Israel’s restrained strikes on Iran avoid disrupting oil infrastructure, allowing for short-term market stability

Oil prices rose nearly 2% on supply fears as escalating Middle East tensions, including possible Israeli retaliation against Iran, shook markets

Oil prices have steadied after seven consecutive weeks of decline, as global supply and demand factors and geopolitical tensions influence market trends.

Oil prices eased slightly after recording their largest weekly rise in over a year, driven by geopolitical tensions and OPEC+ supply cuts, as investors monitor global supply.

Oil prices recorded significant weekly gains amid heightened Middle East conflict fears. President Biden’s caution against targeting Iranian oil helped limit the surge.

Brent crude falls below $70, adding pressure on Nigeria’s economy and currency while raising hopes for lower petrol prices.