global oil price

Oil prices fell more than 2 percent on Friday, wiping out the week's gains after a tanker-tracking firm reported supply from OPEC is rising. OPEC's July oil supply was set to rise by 145,000 barrels per day (bpd) compared to June, Reuters reported citing data from PetroLogistics, a company that...

Crude Oil prices extended gains on Tuesday after top producers Saudi Arabia, Russia and Kuwait supported prolonging supply cuts until the end of March 2018 in an effort to drain a global glut. Brent crude oil, which Nigeria trade on, was up 20 cents at $52.02 a barrel by 1010 GMT (6.10 a.m...

Crude Oil prices rose in early trading on Friday as turmoil continues in Nigeria, shale bankruptcies in the United States and crisis in Venezuela all contributed to tightening supplies. Despite this, brimming inventories across the world were preventing supply shortfalls and sharper price...

Oil prices hit their highest levels of the year on Friday, driven up by lower US production and a weak dollar. Both US and Brent crude prices hit 2016 peaks, trading as high as $46.27 and $48.30 a barrel respectively. The recent increase in oil prices at Global markets is a good indication to...