New Delhi, Nov 24, 2025 – Oil prices took a breather on Monday after last week’s fall of about 3%, as investors weighed the chances for a U.S. rate cut against the prospect of a Russia-Ukraine deal that could free up more Russian supply through an easing of sanctions. The United States and Ukraine were set to resume work on a revised plan for the peace deal ahead of a Thursday deadline set by U.S. President Donald Trump, after having agreed to adjust an earlier version that critics said …
Oil extends decline by 1.5% on hopes for Russia-Ukraine peace deal
Singapore, Nov 21, 2025 – Oil prices fell 1.5% on Friday, extending declines for a third straight session, as the United States pushed for a Russia-Ukraine peace deal that could swell global market supply, while uncertainty over its rate cuts curbed investors’ risk appetite. Brent crude futures fell 96 cents, or 1.5%, to $62.42 a barrel by 0730 GMT, after slipping 0.2% in the previous session. U.S. West Texas Intermediate was down 1.8%, or $1.03, at $57.97 a barrel, after ending Thursday down 0.5%. Both contracts are set to …
Oil edges up, but oversupply worries cap gains
Tokyo, Nov. 20, 2025 – Oil prices edged up on Thursday after falling in the previous session as a bigger-than-expected draw in U.S. crude stockpiles offset speculation that a U.S. push to end the Russia-Ukraine war may add barrels to an amply supplied market. Brent crude futures were up 20 cents, or 0.31%, to $63.72 a barrel at 0714 GMT, while U.S. West Texas Intermediate crude futures were 22 cents, or 0.37%, higher at $59.66. Both benchmarks rebounded a little after falling 2.1% during Wednesday’s session. The fall followed …
Oil dips on oversupply sentiment but sanctions limit decline
Singapore, Nov. 19, 2025 – Oil prices fell on Wednesday as an industry report showing higher crude inventories in the U.S., the world’s biggest crude consumer, reinforced concerns of oversupply, though price declines were limited by sanctions on Russian oil flows. Brent crude futures eased 11 cents, or 0.2%, to $64.78 a barrel as of 0510 GMT, after gaining 1.1% in the previous session. U.S. West Texas Intermediate crude futures were down 9 cents, or 0.2%, at $60.65 a barrel, after rising 1.4% on Tuesday. U.S. crude and fuel …
Goldman Sachs sees oil prices falling through 2026 on supply surge
New York, Nov 18, 2025 – Oil prices are expected to decline through 2026, Goldman Sachs said on Monday, citing a production surge that will keep the market in a large surplus of around 2 million barrels per day. The bank forecast Brent crude will average $56 a barrel and WTI $52 in 2026, below current forward curves of $63 and $60. “The 2025-2026 supply wave mostly results from long-cycle projects that saw Final Investment Decisions (FIDs) just before the pandemic, got delayed during Covid, and are now all …
Oil slips as loadings resume at Russian hub
Bengaluru, Nov. 18, 2025 – Oil prices dipped on Tuesday as supply concerns eased with the resumption of loadings at a Russian export hub, briefly halted by a Ukrainian drone and missile strike, while traders continued to assess the impact of Western sanctions on Russian flows. Brent crude futures were down 28 cents, or 0.4%, at $63.92 a barrel, as of 0100 GMT. U.S. West Texas Intermediate (WTI) crude futures were down 26 cents, or 0.4%, at $59.65 a barrel. Russia’s Novorossiysk port resumed oil loadings on Sunday after …
Oil edges down after loadings resume at Russian export hub
London, Nov 17, 2025 – Oil prices fell on Monday as loadings resumed at Russia’s Novorossiysk export hub after a two-day suspension at the Black Sea port that had been hit by a Ukrainian attack. Brent crude dropped 45 cents, or 0.7%, to $63.94 a barrel by 0934 GMT. U.S. West Texas Intermediate (WTI) crude was down 46 cents, or 0.8%, at $59.63. Both benchmarks rose more than 2% on Friday to end the week with a modest gain after exports were suspended at Novorossiysk and a neighbouring Caspian …
CPPE advises FG to reinstate 15% import duty on petrol, diesel immediately
Lagos, Nov. 16, 2025 – The Centre for the Promotion of Private Enterprise (CPPE), a private think tank, has advised the federal government to reinstate the 15% import duty on petrol and diesel immediately. The CPPE gave the advice in a policy brief signed by Muda Yusuf, its Chief Executive, and issued in Lagos on Sunday. It said the duty was to serve as an industrial protection instrument designed to support emerging private refineries, promote backward integration and industrial development, and ensure a level playing field for domestic producers …
Oil climbs 1% after Ukrainian attack damages Russian oil depot
Singapore, Nov. 14, 2025 – Oil prices climbed about 1% on Friday, boosted by supply fears after a Ukrainian drone attack hit an oil depot in a major Russian export hub, the Black Sea port of Novorossiysk. Brent crude futures rose 79 cents, or 1.25%, to $63.80 a barrel by 0701 GMT, while U.S. West Texas Intermediate crude advanced 82 cents, or 1.38%, to $59.50 a barrel. Both contracts jumped more than 2% in early Asia trading but then pared some gains. Brent has gained 0.28% on the week, …
Senate directs NNPCL to refund N210trn missing funds
Abuja, Nov. 12, 2025 – The Senate has directed the Nigerian National Petroleum Company Limited (NNPCL) to refund ₦210 trillion it could not account for to the Federation Account The Senate gave the directive on Tuesday after rejecting NNPCL’s written explanations on the N210 trillion unaccounted for in the company’s accounts between 2017 and 2023. The Senate took the resolution after adopting the report of its Committee on Public Accounts which investigated NNPCL’s accounts from 2017 to 2023. According to the committee’s report, the NNPCL’s audited records indicated ₦103 …