The sharp rise in international crude oil prices could trigger another increase in petrol prices in Nigeria, with Brent crude climbing to $115.18 per barrel on Friday amid growing fears of renewed military strikes on Iran and further disruptions to global oil supplies. The latest rally in crude prices comes as Dangote Petroleum Refinery and
Global markets were contending “with concerns around surging oil prices and the sustainability of AI spending”, noted AJ Bell head of financial analysis Danni Hewson. – Key figures at around 1330 GMT – Brent North Sea crude: UP 1.9 percent at $115.29 per barrel West Texas Intermediate: UP 2.3 percent at $101.76 per barrel New York – Dow: DOWN 1.0 percent at 52,362.08 points New York – S&P 500: DOWN 0.5 percent at 7,628.15 New York – Nasdaq Composite: DOWN 0.4 percent at 25,914.05 London – FTSE 100: DOWN 0.6 percent at 10,666.06 Paris – CAC 40: DOWN 0.9 percent at 7,739.94 Frankfurt – DAX:…
Key Figures At Around 1530 GMT Brent North Sea crude: UP 2.9 percent at $116.40 per barrel West Texas Intermediate: UP 2.7 percent at $102.15 per barrel New York – Dow: DOWN 0.9 percent at 52,386.60 points New York – S&P 500: DOWN 0.1 percent at 7,654.96 New York – Nasdaq Composite: UP 0.2 percent at 26,072.47 London – FTSE 100: DOWN 0.3 percent at 10,690.36 Paris – CAC 40: DOWN 0.4 percent at 7,782.82 Frankfurt – DAX: DOWN 0.8 percent at 25,181.65 Tokyo – Nikkei 225: DOWN 0.3 percent at 62,693.16 (close) Hong Kong – Hang Seng Index: UP 0.7 percent at 23,093.37 (close) Shanghai – Composite:…
Rolling coverage of the latest economic and financial news Rob Wood, chief UK economist at Pantheon Macroeconomics, says the biggest news is from S&P’s PMI data is the composite employment index rising above 50 for the first time since the 2024 budget. Geopolitics, and notably the potential for conflicts in the Middle East and Ukraine to add to energy market volatility, are, however, clearly still unsettling many businesses, and cost of living concerns and broader fiscal worries are being compounded by the shift to higher borrowing costs.
Brent crude futures touched an intraday high of $114.94 a barrel on Friday after Houthi attacks on Saudi Arabia’s civilian and energy infrastructure, with India’s crude basket averaging $120.08 so far this month; Adani Total Gas raised CNG prices by ₹4.45 per kg
US Secretary of State Marco Rubio pushed a business and energy agenda over diplomacy on his second trip to India this year.
Datacenter and chip costs fueled sharp decrease in AI sector although non-AI stocks still had a strong showing The latest shudder for stocks in the AI industry pulled markets lower worldwide on Thursday, while oil prices hit their highest levels since May on worries about the war with Iran. The weakness for tech stocks was so overwhelming that it masked strength for the rest of the US market, in which the majority of stocks actually rose.