Chai! Nigeria, make we holla about the oil market wey don shake this week! Na Thursday, oil price just fall well-well, like person wey dey run from una wahala, e drop about 4%! Dis one na after President Trump come dey talk say everything don dey cool down for Iran. Eyan like say no wahala dey wey go scatter supply for market.
Brent wey be big shot for oil market don settle at $63.76 a barrel, meaning na $2.76 don waka. As for West Texas Intermediate (WTI), dem don carry the price go down to $59.19, e be like say e don lose $2.83. E be like say na Trump’s talk wey make market waka, because him say killings for protest don reduce and e no go intervene. Analysts dey talk say this one don reduce wetin dem dey call risk premium wey don dey high since last week.
Just yesterday, Brent oil don reach $66.82 wey be the highest since September, but now na different level dey play. Phil Flynn wey be analyst from Price Futures Group talk say, “We don shift from Trump go fit pursue Iran matter to no wahala, and dat na wetin dey push price down today.”
And no forget say, U.S. crude and petrol inventories don increase pass wetin analysts expect last week. As dem dey drop report, wey come from Energy Information Administration, people dey wonder wetin dey happen. Meanwhile, Venezuela wey dey face embargo don begin cut oil production, but dem still dey resume crude export. Wetin be this one again? Analysts dey watch as e fit affect world oil market.
So, if you dey plan to buy fuel, abeg hold your pocket tight! OPEC still dey project say oil demand go steady for 2027, and even one report show say supply go balance with demand for 2026. Meanwhile, China dey import oil like say dem dey run competition, volume don hit record highest, even when total imports for 2025 don rise by 4.4%.
As we dey watch all this drama for oil market, no forget say silver don fall by 7% for Asia after e don touch $93.75 per ounce. E get as e be, but analysts dey talk say even with this fallout, demand still dey strong. Gold, on the other hand, dey maintain small decrease, e no too shake like silver.
For stock market, wey dey turn around like calabar soup, TSMC wey be chip making giant don drop sweet profit wey help lift investor morale. Nasdaq don rise almost 1% for New York, as everybody dey ginger for that AI movement. So my fellow Naijarians, carry your drink, make we dey observe as market dey unfold. Who know where e go land?
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