Crude Oil

The Federal Government has announced it has recovered 230,000 barrels of stolen crude oil since April 1, and arrested 85 suspects and 72 boats. This was disclosed in a statement by the government on Monday evening, citing the success of…

The price of crude oil has climbed above the $100 mark hitting $101.16/barrel after trading around $98/barrel since Tuesday last week. Oil marketers in Nigeria maintained an increased pump price for Premium Motor Spirit, popularly called…

The Nigerian Military has vowed to curb losses from pipeline vandalism and crude oil theft in the country. Gen. Lucky Irabor, the Chief of Defence Staff, stated this while in the oil-rich city of PortHarcourt,…

The West Texas Intermediate (WTI) crude futures surpassed $107 per barrel on Wednesday, extending an 8% rally in the previous session as the IEA warned that global energy security is under threat following Russia’s invasion of Ukraine,…

Oil prices start the London trading session bullish with investors regaining some risk appetite. However, they await clues from the U.S. Federal Reserve chairman on potential interest rate rises and some oil producers continued to struggle…

The price of crude oil rose in London on Friday morning as an uprising in Kazakhstan led to concerns about disruptions in crude supplies from the OPEC+ producers at a time when Libyan output has dropped. Brent crude futures gained 0.6%…

Brent crude futures edged up to above $82.5 a barrel on Friday, after OPEC and its allies agreed to raise output by a pre-agreed 400,000 barrels per day from December defying US pressure to help cool the market. However, the…

Latest survey has shown that the Organization of Petroleum Exporting Countries (OPEC) boosted crude production in August, last month, as it continued the revival of supplies halted during the COVID-19 pandemic, but some members…

Oil prices plunged around 2% on Monday, extending last week's slump of more than 8%, amid the rising US dollar and mounting fears that the rapid spread of the Delta variant globally may cloud the demand outlook. In China, there…

The West Texas Intermediate (WTI) oil was trading around $70 a barrel on Thursday, rebounding from two-month lows of near $65 earlier in the week, as risk appetite improved despite an unexpected increase in US crude stock. The…