• Hausa Edition
  • Podcast
  • Conferences
  • LeVogue Magazine
  • Business News
  • Print Advert Rates
  • Online Advert Rates
  • Contact Us
Monday, June 2, 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

Oil Prices Drop To $72 Per Barrel After al-Assad’s Fall

by Nafisat Abdulrahman
6 months ago
in Business
Bashar al-Assad

Bashar al-Assad

Share on WhatsAppShare on FacebookShare on XTelegram

Global oil prices experienced a slight decline, dropping to $72 per barrel on Tuesday, following the dramatic overthrow of Syrian President Bashar al-Assad.

Advertisement

The political turn eased concerns about potential disruptions in the region, prompting Brent crude, the global oil benchmark to fall by 0.11% to $72.06 per barrel.

Similarly, the US West Texas Intermediate (WTI) crude price dropped 0.20% to $68.23 per barrel as of 09:50 WAT.

The drop in prices followed a more than 1% rise on Monday, reflecting initial uncertainty about the situation in Syria.

These drops indicate that although Syria is not a major oil producer, its strategic location and alliances with Russia and Iran contribute to its significance in the global oil market.

RELATED

Chinedumuije Urges Tinubu To Stop Foreign Loans For Infrastructural Projects

Tech Expert Urges Business Owners To Use Data For Experiential Engagement

25 minutes ago
Forum Salutes Tinubu, Umahi Over Infrastructural Development In North

Amid 2,669 Road Construction Projects, Engineers Blame Kickbacks For Failures

8 hours ago

LEADERSHIP recalls that the 14-year rule of Assad ended on Sunday December 8 after rebel groups overran Damascus.

The rebels have since started forming a government and restoring key sectors, including banking and oil production, which resumed operations on Tuesday.

Despite the political development in Syria, oil market declines were capped by positive global economic indicators. “The market is focused on the possibility of a rate cut by the US Federal Reserve next week, which could bolster oil demand in the world’s biggest economy,” Reuters reported.

The Federal Reserve is expected to reduce interest rates by 25 basis points during its December 17–18 meeting.

However, traders remain cautious, waiting for inflation data due this week that could influence the Central Bank’s decision.

Meanwhile, optimism about China’s economic prospects also provided support for oil prices.

Reports suggested that China would adopt an “appropriately loose” monetary policy in 2024, its first easing in 14 years aimed at spurring growth in the world’s top oil-importing country.

In a related development, the Organisation of Petroleum Exporting Countries (OPEC) recently extended Nigeria’s oil production quota of 1.5 million barrels per day (bpd) until 2026.


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 in US Dollars, acquire ultra premium domains for low and sell for super profit. Our client acquired a domain for $3715 and got it sold for $42,000. Click here to see how you too can profit from the business.


Tags: Oil PricesPresident Bashar al-Assad
SendShareTweetShare
Previous Post

US Election, New National Anthem, National Grid Top Nigeria’s Google Searches For 2024

Next Post

Meta Launches Global Campaign To Combat Holiday Shopping Scams

Nafisat Abdulrahman

Nafisat Abdulrahman

I am a dedicated reporter at Leadership Newspaper, where I bring a keen eye for detail and a passion for storytelling to a diverse range of topics, including business, sports, politics, and international affairs. My work aims to provide readers with accurate, timely, and engaging reports that break down the complexities of current events. From covering high-profile political shifts and court cases to exploring the latest in economic developments and sporting events, I strive to offer insightful and comprehensive coverage. My stories include in-depth analyses of economic trends, detailed political reports, and human interest pieces that highlight significant global and local events. I am committed to delivering news that informs and fosters a deeper understanding of the issues shaping our world. My goal is to engage readers with well-researched and thought-provoking content

You May Like

Chinedumuije Urges Tinubu To Stop Foreign Loans For Infrastructural Projects
Business

Tech Expert Urges Business Owners To Use Data For Experiential Engagement

2025/06/02
Forum Salutes Tinubu, Umahi Over Infrastructural Development In North
Business

Amid 2,669 Road Construction Projects, Engineers Blame Kickbacks For Failures

2025/06/02
Large-cap Stock Drives Local Bourse To N180bn Gains
Business

Stock Investors Gain N3.967trn In May Amidst Positive Returns

2025/06/02
NCAT Rector Raises The Alarm Over Shortage Of Funds For Capital Projects
Business

‘Foreign Students’ Surge At NCAT Boosts Federal Gov’t’s Forex Earnings’

2025/06/02
IWD: Female Employees Share Career Journey At Schneider Electric
Business

‘AI Key To Optimising Infrastructure Surge For Nigeria Data Centres’

2025/06/02
Analyst Hails Senate Over Passage Of Tax Reform Bills
Business

IMF, Analysts Caution Federal Gov’t Over Increasing Debt

2025/06/02
Leadership Conference advertisement

LATEST

Akpabio Planned My Suspension For Refusing Corruption Demands – Natasha

Eid-el-Kabir: Tinubu Donates Rice, Cows To Abuja National Mosque

Tech Expert Urges Business Owners To Use Data For Experiential Engagement

Police Recover 15 Stolen Vehicles In Enugu

JUST-IN: Again, 48 Farmers Killed In 2 Benue Communities

Poly Students To Hold 1 million-man March In Honour Of Tinubu

CSOs Score Tinubu High On SDGs, Youth Development

Tinubu’s Aide Tasks Women On Entrepreneurship As Pink Fleur Unveils ‘Noor Collection’

PICTORIAL: Judges, Lawyers, Litigants Shut Out As JUSUN Strike Cripples Abuja Courts

I Never Backed Emergency Rule In Rivers — Wike

© 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.