• Hausa Edition
  • Podcast
  • Conferences
  • LeVogue Magazine
  • Business News
  • Print Advert Rates
  • Online Advert Rates
  • Contact Us
Sunday, July 6, 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

Sujimoto Pays ₦273m Salary Arrears, Eyes Construction Of Tallest Tower In Banana Island

Sujimoto Pays ₦273m Salary Arrears, Eyes Construction Of Tallest Tower In Banana Island

5 hours ago
Nigeria’s Internet Subscribers Reach 148m, Highest In 14 Months

Despite 50% Tariff Hike, Internet Usage Hits 1m TB In May

16 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

BREAKING NEWS: Nigerians can now earn US Dollars from the comfort of their homes with Ultra-Premium domains, acquire them for as low as $1700 and profit as much as $25,000. Click here to learn how you can earn US Dollars consistently.


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

Sujimoto Pays ₦273m Salary Arrears, Eyes Construction Of Tallest Tower In Banana Island
Business

Sujimoto Pays ₦273m Salary Arrears, Eyes Construction Of Tallest Tower In Banana Island

2025/07/05
Nigeria’s Internet Subscribers Reach 148m, Highest In 14 Months
Business

Despite 50% Tariff Hike, Internet Usage Hits 1m TB In May

2025/07/05
Equities To Sustain Positive Sentiment Amidst Audited Earnings Expectations
Business

Interim Dividend: Stocks Gain N377bn In 1 Week

2025/07/05
Nigeria Is Top Investment Pick, Says Asia Fund Veteran
Business

Nigeria Is Top Investment Pick, Says Asia Fund Veteran

2025/07/05
Galaxy Backbone, REA Partner To Power Rural Areas
Business

Galaxy Backbone, REA Partner To Power Rural Areas

2025/07/05
Segilola Resources Unveils Livelihood Programme For Osun Communities
Business

Segilola Resources Unveils Livelihood Programme For Osun Communities

2025/07/05
Leadership Conference advertisement

LATEST

Nigerian Gov’t Grants Visa Overstayers Amnesty To Regularise Status

Revocation: Kaduna Govt To Refund Buyers Of Queen Amina, Alhuda-huda College Houses 

40 Ghanaian Victims Rescued As Police Bust Human Trafficking Syndicate In Ondo

NASS To Transmit Constitution Review Report To State Assemblies Before December

Jigawa Local Gov’t Chairman Dies At 61

Club World Cup: 9-man PSG Defeat Bayern To Reach Semi-final

Sujimoto Pays ₦273m Salary Arrears, Eyes Construction Of Tallest Tower In Banana Island

Liverpool Stars Honour Diogo Jota, André Silva At Funeral In Portugal

Chelsea Complete £48.5m Signing Of Gittens From Dortmund

Forget 2027, Presidency Tells Coalition’s ADC

© 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.