• Hausa Edition
  • Podcast
  • Conferences
  • LeVogue Magazine
  • Business News
  • Print Advert Rates
  • Online Advert Rates
  • Contact Us
Monday, August 4, 2025
Leadership Newspapers
Read in Hausa
  • Home
  • News
  • Politics
  • Business
  • Sport
  • Health
  • Entertainment
  • Opinion
    • Editorial
  • Columns
  • Football
  • Others
    • LeVogue Magazine
    • Conferences
    • National Economy
  • Contact Us
No Result
View All Result
  • Home
  • News
  • Politics
  • Business
  • Sport
  • Health
  • Entertainment
  • Opinion
    • Editorial
  • Columns
  • Football
  • Others
    • LeVogue Magazine
    • Conferences
    • National Economy
  • Contact Us
No Result
View All Result
Leadership Newspapers
No Result
View All Result

Brent Hits $120/b Moderates, As EU Meets On Russia Sanctions

by Chika Izuora
3 years ago
in Business
Brent
Share on WhatsAppShare on FacebookShare on XTelegram

RELATED

VitalSwap Unlocks Global Revenue Channels For African Remote Workers

VitalSwap Unlocks Global Revenue Channels For African Remote Workers

10 hours ago
Presco Lauds 2024 Staff’s Performance, Explains 2025 Agenda

Presco Grows Pre-tax Profit By 121.8% To N111.9bn

17 hours ago

Oil prices climbed above $120 a barrel yesterday, hitting their highest in more than two months as traders priced in expectations that the European Union will eventually reach an agreement to ban Russian oil imports. The Brent crude futures contract for July, which will expire today, was up $1.35, or 1.1 per cent, at $120.78 a barrel. The August Brent contract , which is more active, rose $1.27, or 1.1 per cent, to $116.81 a barrel. U.S. West Texas Intermediate (WTI) crude futures jumped $1.11, or one per cent, to $116.18 a barrel, extending solid gains made last week. The EU is meeting on Monday and Tuesday to discuss a sixth package of sanctions against Russia for its invasion of Ukraine, which Moscow calls a “special military operation”.

“Europe has been haggling about this for the better part of a month, but increasingly the market is pricing (additional sanctions) in as a risk,” said Daniel Ghali, senior commodity strategist at TD Securities in Toronto. EU countries failed to agree on a Russian oil import ban despite last-minute haggling before the summit got under way in Brussels on Monday. But leaders of the 27 EU countries will agree in principle to an oil embargo, a draft of their summit conclusions showed, while leaving the practical details and hard decisions until later. It’s still quite difficult for the European group to reduce its energy dependency on Russia in the near term,” said Leona Liu, analyst at Singapore-based DailyFX. Any further ban on Russian oil would tighten a crude market already strained for supply amid rising demand for gasoline, diesel and jet fuel ahead of the peak summer demand season in the United States and Europe.

Advertisement

Underscoring market tightness, the Organization of the Petroleum Exporting Countries and allies including Russia, a group dubbed OPEC+, are set to rebuff Western calls to speed up increases in output when they meet on Thursday. They will stick to existing plans to raise their July output target by 432,000 barrels per day, six OPEC+ sources told Reuters


We’ve got the edge. Get real-time reports, breaking scoops, and exclusive angles delivered straight to your phone. Don’t settle for stale news. Join LEADERSHIP NEWS on WhatsApp for 24/7 updates →

Join Our WhatsApp Channel




SendShareTweetShare
Previous Post

Atiku: Sokoto AG Lauds Tambuwal Over Sacrifice

Next Post

Equities Market Begins Week With N169bn Loss

Chika Izuora

Chika Izuora

You May Like

VitalSwap Unlocks Global Revenue Channels For African Remote Workers
Business

VitalSwap Unlocks Global Revenue Channels For African Remote Workers

2025/08/03
Presco Lauds 2024 Staff’s Performance, Explains 2025 Agenda
Business

Presco Grows Pre-tax Profit By 121.8% To N111.9bn

2025/08/03
Nigerian Breweries Records N106bn Net Loss
Business

Nigerian Breweries Records N738.14bn Revenue

2025/08/03
‘95,000 Women, Children Die Annually From Charcoal Smoke’
Business

Charcoal Trade Threat To Forest Sustainability, Livelihood – FG

2025/08/03
Shippers’ Council Condemns Vandalism, Theft Of Rail Tracks
Business

Shippers’ Council Seeks Abia Govt. Support On Isiala Ngwa Inland Dry Port Revival

2025/08/03
Use Existing Frameworks To Bridge Metering Gap, NERC Tells Distribution Firms
Business

NERC Transfers Regulatory Oversight Of Electricity Market In Nasarawa State To NASERC

2025/08/03
Leadership Conference advertisement

LATEST

‘Obi’s 6m Votes Will Vanish If He Joins Atiku’, Says Tinubu’s Minister

‘You’ve Written Your Names In History,’ Tinubu Celebrates Victorious D’Tigress

‘A Golden Chapter For Nigeria’, Remi Tinubu Celebrates D’Tigress

Bandits Kill 11 Residents In Zamfara Villages

N712bn Lagos Airport Renovation Misplaced Priority — ADC

Federal Gov’t To Recoup N712bn Lagos Airport Renovation Spending In 3 Years Keyamo

JUST-IN: Nigeria’s D’Tigress Clinch 5th Consecutive FIBA Women’s AfroBasket Title

‘We Are Rebuilding Lagos Airport To Become West Africa’s Aviation Hub,’ Says Federal Gov’t

Ex-Katsina Central Senator Dumps APC For ADC

North Not Marginalised Under Tinubu, Kaduna Gov Insists

© 2025 Leadership Media Group - All Rights Reserved.

No Result
View All Result
  • Home
  • News
  • Politics
  • Business
  • Sport
  • Health
  • Entertainment
  • Opinion
    • Editorial
  • Columns
  • Football
  • Others
    • LeVogue Magazine
    • Conferences
    • National Economy
  • Contact Us

© 2025 Leadership Media Group - All Rights Reserved.