• Hausa Edition
  • Podcast
  • Conferences
  • LeVogue Magazine
  • Business News
  • Print Advert Rates
  • Online Advert Rates
  • Contact Us
Tuesday, November 28, 2023
Leadership News
Read in Hausa
  • Home
  • News
  • Politics
  • Business
  • Sports
    • Betting
  • Health
  • Entertainment
  • Opinion
    • Editorial
  • Columns
  • 2023 Elections
  • Others
    • How-to
    • LeVogue Magazine
    • Conferences
    • National Economy
  • Contact Us
No Result
View All Result
  • Home
  • News
  • Politics
  • Business
  • Sports
    • Betting
  • Health
  • Entertainment
  • Opinion
    • Editorial
  • Columns
  • 2023 Elections
  • Others
    • How-to
    • LeVogue Magazine
    • Conferences
    • National Economy
  • Contact Us
No Result
View All Result
Leadership News
No Result
View All Result
ADVERTISEMENT

Nigeria’s Qua Iboe Crude Above $100 Per Barrel

by Chika Izuora
2 months ago
in Business
Reading Time: 1 min read
Share on WhatsAppShare on FacebookShare on TwitterTelegram

 

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.

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

RELATED

Climate Change: Stakeholders Seek Afrocentric Architecture

27 mins ago

Soft Alliance Enriches Skills, Knowledge For Users

28 mins ago
NPA Commends Union Over Maritime Workers’ Pay Rise

‘NPA’s Port Community System Will Support Blue Economy Potential’

37 mins ago
Federal Govt Approves N26bn For Electricity Conductors, Transformers Contracts

FG To Develop Integrated National Electricity Policy

40 mins ago

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.

SendShareTweetShare
Previous Post

Private Sector Raises Concern Over Incessant Summons By NASS Committees

Next Post

National Grid Collapses Again As FG Promises 20,000MW Generation By 2026

YOU MAY LIKE

Business

Climate Change: Stakeholders Seek Afrocentric Architecture

27 mins ago
Business

Soft Alliance Enriches Skills, Knowledge For Users

28 mins ago
NPA Commends Union Over Maritime Workers’ Pay Rise
Business

‘NPA’s Port Community System Will Support Blue Economy Potential’

37 mins ago
Federal Govt Approves N26bn For Electricity Conductors, Transformers Contracts
Business

FG To Develop Integrated National Electricity Policy

40 mins ago
Next Post
National Grid Collapses Again As FG Promises 20,000MW Generation By 2026

National Grid Collapses Again As FG Promises 20,000MW Generation By 2026

TRENDING

  • Joe Praize, Chioma Jesus, Others Visit Mercy Chinwo, Baby In Nigeria

    Joe Praize, Chioma Jesus, Others Visit Mercy Chinwo, Baby In Nigeria

    0 shares
    Share 0 Tweet 0
  • ‘Speak When Necessary’ – Davido Tells Israel DMW Amid Public Feud With Estranged Wife

    0 shares
    Share 0 Tweet 0
  • Dangote Refinery Secures First Deal, Begins Operations With 350,000bpd

    0 shares
    Share 0 Tweet 0
  • Top 6 Music Record Labels In Nigeria

    0 shares
    Share 0 Tweet 0
  • Again, Multichoice Nigeria Raises DStv, GOtv Prices

    0 shares
    Share 0 Tweet 0

RECENT UPDATE

Why I Visited Tinubu – Gov Eno
News

Governor Eno Applauds Predecessors On A/Ibom Devt Trajectory

by Iniobong Ekponta
2 mins ago

Read more
Surveyors Seek Stakeholders’ Collaboration In Development
News

Surveyors Seek Stakeholders’ Collaboration In Development

by Leadership News...
5 mins ago

Read more
We have No Chairmanship Position, Bassa Community Tells Oguntoyinbo
News

Group Seeks FG Support To Curb Poverty Among Nigerians

by Elijah Samson
6 mins ago

Read more

© 2023 Leadership Media Group - All Rights Reserved.

No Result
View All Result
  • Home
  • News
  • Politics
  • Business
  • Sports
    • Betting
  • Health
  • Entertainment
  • Opinion
    • Editorial
  • Columns
  • 2023 Elections
  • Others
    • How-to
    • LeVogue Magazine
    • Conferences
    • National Economy
  • Contact Us

© 2023 Leadership Media Group - All Rights Reserved.

Welcome Back!

Login to your account below

Forgotten Password?

Retrieve your password

Please enter your username or email address to reset your password.

Log In