Author: Anthony Persuader
Financial Journalist with global coverage.
Oil Prices Ease 1% Week-on-Week over Rising Uncertainties Oil prices are on track to post a narrow weekly decline for the week ending July 18, as markets grappled with a complex mix of supply and demand signals. The international benchmark Brent crude was trading at $69.39 per barrel on Friday, marking a fall of around 0.9% from last week’s closing price of $70.01. Similarly, the American benchmark West Texas Intermediate (WTI) traded at $66.83 per barrel, a decrease of approximately 1% from last Friday’s close of $67.56. Although prices saw an uptick on Friday, driven by fresh supply concerns following…
Bitcoin Breaks and Pulls as Ethereum Tests $2800 on Gamesquare Bet Bitcoin broke $112,000 levels with approximately 3% price appreciation over the last 24 hours in the crypto market. However, the world’s largest crypto asset has pulled back, trading at $111,200—a previous resistance it struggled to break. Ethereum, however, is popping as investors continue to strengthen positions amidst projections that the second-largest cryptocurrency could hit $3000 in the coming days. Data from CoinMarketCap.com showed Ethereum has gained about 7% in the last 24 hours in the crypto market as Nasdaq-listed GameSquare bets $100 million on ETHUSD. Ethereum is trading at…
Crude Oil Prices Increase as US Dollar Slides Crude oil prices found some support in the global commodity market on Thursday on the back of a weak dollar, in addition to positive demand expectations in the US, the world’s largest oil consumer, and a weaker dollar. Prices of oil have been fluctuating strongly over renewed U.S. tariff threats and potential damage to economic growth across the world. Many countries are looking for a way to be in the US’s good book, but analysts expressed concern that Donald Trump is weaponizing tariff hikes against old allies—reversing the global economic order. As…
Oil Prices Retreat on OPEC+, US Tariffs Concerns Oil prices dipped following fresh developments on US trade tariffs and a production hike decision by the OPEC+ alliance. Brent crude fell by 0.3%, trading at $68.96 per barrel, down from $69.18 at the previous session’s close. US benchmark West Texas Intermediate (WTI) decreased by about 0.4%, settling at $66.74 per barrel, compared to $67.04 in the prior session. US President Donald Trump on Monday shared tariff letters on social media, targeting 14 countries with new customs duties. The letters revealed that starting August 1, all imports from Japan and South Korea…
OPEC Urges Caution amid Middle East tensions The Organization of the Petroleum Exporting Countries (OPEC) on Friday criticized remarks by the head of the International Energy Agency (IEA), saying his statements risked stoking unnecessary fears in an already volatile oil market. “There are currently no developments in supply or market dynamics that warrant unnecessary measures,” said Haitan Al Ghais, Secretary General, the oil producers’ group in a statement. “Today’s statement in social media by the IEA executive director regarding current market conditions and potential use of oil emergency stocks, raises false alarms and projects a sense of market fear through…
Dollar Rises Ahead of Federal Open Market Committee Minutes The US dollar rose against its major trading partners Tuesday after the long holiday weekend, with the focus this week on consumer confidence, minutes of the May 6-7 Federal Open Market Committee (FOMC) meeting, and the second look at Q1 GDP and personal income, spending, and price data for April. Attention remains on the debate in the U.S. Senate on President Donald Trump’s tax-cut bill that is expected to add to the debt pile in the world’s largest economy. Markets have been sensitive to Trump’s plan, particularly after Moody’s downgrade of…
British Pound Hits Fresh High as Forex Traders Dump Dollar British pound hit fresh high in the forex market this week amidst growth optimism following retail sales data. Data from the forex market showed that GBPUSD cleared at 1.3538 on Friday as sterling has gained 1.93% against the greenback. Investors dumped dollar as the US administration re-ignite trade war tantrum with threat to slam the European Union – a move that again strengthened EURUSD. The market had seen the GBPUSD pair advanced to a fresh three-year high of $1.3480 after a much brighter-than-expected retail sales report got traders excited about…
Trump Says ‘Getting Close’ To Deal to Avoid Iran War US President Donald Trump said Thursday a deal was close on Iran’s nuclear programme that would avoid military action, sending oil prices tumbling as he boasted of raising “trillions of dollars” on a Gulf tour. “We’re not going to be making any nuclear dust in Iran,” Trump said in Qatar, the second stop of his multi-day Gulf tour. “I think we’re getting close to maybe doing a deal without having to do this,” he said, in reference to military action. Oil prices plunged more than three percent on rising hopes…
BUA Foods Declares 24% Revenue Growth in Q1 BUA Foods Plc, diversified and leading food business, says the company’s revenue grew by 24 per cent to N442.1 billion in the quarter of 2025, up from N356.9 billion in the corresponding period of 2024. Dr Ayodele Abioye, the Managing Director, BUA Foods, made this known in a statement on Thursday in Lagos. Abioye said the company’s gross profit increased by 39 per cent to N160.91 billion, total equities improved by 29.2 per cent to N554.34 billion and its profit after tax rose by 124 per cent to N125.28 billion He noted…
Fintech: No Investor will Lose Funds, SEC assures The Securities and Exchange Commission (SEC) has restated its commitment to investors’ protection, especially with the increasing use of fintech. In a statement in Abuja on Sunday, its Director-General, Dr Emomotimi Agama, said the commission would enforce regulations in the fintech ecosystem. He noted that this would help to curb mismanagement of funds and align operators with existing rules. Agama said a regulatory environment that was conducive for the innovative use of technology was essential in the drive to transform the country. According to him, it is time for fintech operators to…