ADVERTISEMENT
  • Hausa Edition
  • Podcast
  • Conferences
  • LeVogue Magazine
  • Business News
  • Print Advert Rates
  • Online Advert Rates
  • Contact Us
Friday, September 19, 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

JUST-IN: Dangote Refinery Halts Product Sales To Unregistered Marketers

5 hours ago

Akwa Ibom Looks Beyond Oil, Targets Agric Products For Export

6 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

JUST-IN: Dangote Refinery Halts Product Sales To Unregistered Marketers

2025/09/19
Business

Akwa Ibom Looks Beyond Oil, Targets Agric Products For Export

2025/09/19
Business

Equities Extend Gains, Up By N144bn

2025/09/19
Business

Global Aircraft Manufacturer Bombardier Endorses Dangote Refinery

2025/09/19
Business

Nigerian Aviation Regulator Fines Kenya Airways For Consumer Rights Violation

2025/09/19
Business

28m Housing Deficit: Operator Advocates Building 700,000 Homes Annually

2025/09/19
Leadership Conference advertisement

LATEST

Tinubu Arrives Kaduna For Ex-Governor Yari Son’s Wedding

Abuja Waste Contractors Threaten Strike Over 9 Months Unpaid Wages

Fubara May Address Rivers People Friday

2025 WAC: Nathaniel Sets New Nigerian Record At Tokyo

Edo Demolishes 4 Houses Linked To Suspected Cultists

NDLEA Loses Cross River Commander 1 Month After Deployment

Cattle Markets Shut In 7 Kwara LGAs

Sokoto Suspends 6 Principals Over Insubordination, Illegal Fees

Police Arrest 4 Kidnap Suspects, Recover 5 Stolen Vehicles In Ebonyi

Singer Spyro Announces Engagement To Partner

© 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.