Commodities
Articles on commodities such as gold, iron, oil, cotton etc.
Nigeria’s Black Gold under pressure, stays on $40
To tackle weakened oil demand, OPEC and its major allies agreed to a record supply cut.
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Gold nears 8-year high, more economic stimulus coming
The last time gold spot price hit $1,800 was in 2011.
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Oil falls over comments on U.S.-China trade deal being “over”
The statement crushed the hopes of many investors who had been expectant as a result of previous gains.
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Gold futures reach two-months high over rising COVID-19 cases
Gold futures kept the momentum up as more investors turned to the safe-haven asset.
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Oil plunges as worries over demand outweigh tighter supply
OPEC+ has not decided on whether to extend the record supply cut of 9.7 million barrels per day.
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Nigeria’s Bonny light reaches four months high
Bonny light crude reached a four-month high, since early March 9, where its price fell to $37.22.
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Crude oil closes high, Nigeria to comply with output cut
Oil traders have flagged the start of hurricane season as a potential headwind for crude oil prices.
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Gold price up as COVID-19 cases rise, U.S-China tensions heighten
The dollar’s rise to a near two-week high in the previous session subdued gold’s advance.
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Nigeria’s potential crude oil reserves expected to fall by 6 billion barrels
The company expects potential reserves in Nigeria to fall further by 6 billion barrels.
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Brent crude recovers to 90% of pre-coronavirus levels, as global demand rises
The oil market is stabilising amidst compliance of OPEC+ members with the agreement to cut oil production.
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