ADVERTISEMENT
  • Hausa Edition
  • Podcast
  • Conferences
  • LeVogue Magazine
  • Business News
  • Print Advert Rates
  • Online Advert Rates
  • Contact Us
Wednesday, September 17, 2025
Leadership Newspapers
Read in Hausa
  • Home
  • News
  • Politics
  • Business
  • Sport
    • Football
  • Health
  • Entertainment
  • Education
  • Opinion
    • Editorial
    • Columns
  • Others
    • LeVogue Magazine
    • Conferences
    • National Economy
  • Contact Us
No Result
View All Result
  • Home
  • News
  • Politics
  • Business
  • Sport
    • Football
  • Health
  • Entertainment
  • Education
  • Opinion
    • Editorial
    • Columns
  • Others
    • LeVogue Magazine
    • Conferences
    • National Economy
  • Contact Us
No Result
View All Result
Leadership Newspapers
No Result
View All Result

Nigeria’s Qua Iboe Crude Above $100 Per Barrel

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

 

Advertisement

Nigeria’s crude spec is attracting high price stand in the international market as oil investors and traders focused on an oil-price rally that has come close to $100 a barrel.

This is as some grades of crude oil are already trading above that milestone, highlighting an expectation of tight supply.

The outright price of Nigerian crude, Qua Iboe, surpassed $100 a barrel on Monday, according to LSEG data, while Malaysian crude Tapis reached $101.30 last week, said Bjarne Schieldrop analyst at Swedish bank SEB, in a report.

Oil has risen to its highest level of 2023 as investors are focused on the prospect of a supply deficit in the fourth quarter after Saudi Arabia and Russia extended supply cuts. The two are the biggest producers in the OPEC+ group, most other members of which are also curbing output.

Related News

NBS Report: Ekiti Confident Interventions Will Reduce High Inflation Rate

2 hours ago

All Federal Airports Fully Insured, Runways Under Overhaul — FAAN

7 hours ago

“The overall situation is that Saudi Arabia and Russia are in solid control of the oil market,”  Schieldrop said.

Brent oil futures, a global benchmark, traded as high as $94.89 on Monday and the related benchmark used for trading much of the world’s physical cargoes, called dated Brent , stood just above $96 according to LSEG.

Nigeria’s Qua Iboe and some other crudes priced against Brent, are above $100 already because they are based on the price of dated Brent plus a cash differential or premium, currently assessed by LSEG at around $4.25 a barrel .

Schieldrop said dated Brent is highly likely to move above $100 as “only noise is needed to bring it above.” Swiss bank UBS sees Brent futures reaching triple digits.

“We expect Brent to trade in a range of $90-100 over the coming months, with a year-end target of $95,” said UBS analyst, Giovanni Staunovo.

Join Our WhatsApp Channel

SendShare10173Tweet6358Share

Other News Updates

Business

NBS Report: Ekiti Confident Interventions Will Reduce High Inflation Rate

2025/09/17
Business

All Federal Airports Fully Insured, Runways Under Overhaul — FAAN

2025/09/17
Agriculture

Federal Government Unveils $3.14bn Agric Investment Scheme With FAO

2025/09/17
Business

Upstream Sector Attracts $18.2bn Investment, Unlocks 1.4bn Oil Barrels

2025/09/17
Business

CBN Enlightens Kano Residents About New Banking Initiatives

2025/09/17
Business

Rehoboth City Estate Unveils Wazobia, Smart Housing Project In Abuja

2025/09/17
Leadership Conference advertisement

LATEST

WAC: Nigeria’s Nathaniel Breaks 38-yr Jinx, Qualifies For 400m Hurdles Final

Governor Adeleke Not Defecting To ADC Or Any Party, Say Osun Government

Stop Painting Dangote As Villain, Ndume Slams Oil Workers

‘Traditional Rulers’ Role Key In Tackling Insecurity’, Says Olu Of Warri

Activities Of ‘Yahoo Boys’ Costing Innocent Nigerians US Visas – EFCC

Anglican Bishop Of Uyo Diocese Owen Ukafia Dies

Police Clear Pastor Adefarasin, Say Object In Viral Video Not Weapon

WAC: Jefferson-Wooden, Jackson Breeze Into Women’s 200m Semifinals

Tinubu Felicitates Ex-IGP Adamu On Birthday

Delta Police Arrest 2 Over Alleged Theft Of Musical Instruments In Churches

© 2025 Leadership Media Group - All Rights Reserved.

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

© 2025 Leadership Media Group - All Rights Reserved.