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Nairaland Forum / Nairaland / General / Business / Oil Price Slumps To $46 Amid Brexit Concerns (8547 Views)
Oil Price Rise To $46 Per Barrel- PunchNg / Crude Prices Hit $46 A Barrel Record-year High / Crude Oil Price Rise After Russia Agrees To OPEC Talk (2) (3) (4)
Oil Price Slumps To $46 Amid Brexit Concerns by Omooba77: 6:32am On Jun 28, 2016 |
Global oil benchmark, Brent crude, traded sharply lower on Monday, extending its declines following Britain’s vote to exit the European Union on Thursday. The dip in the oil price comes as investors were worried about global energy demand and shunned assets perceived as risky in the aftermath of the Brexit decision. Brent, against which Nigeria’s oil is priced, had hit the $50 per barrel mark for the first time in 2016 on May 26 and was as high as $53 per barrel few days after before dropping to $49 on June 13. It stood at $46.31 as of 8.05pm on Monday, weighed by a rallying dollar and continued market uncertainty over Brexit. Brent and US crude futures have lost about seven per cent since Thursday’s settlement after the so-called Brexit vote sent global risk assets plummeting on Friday as investors fled to safe havens such as the dollar, United States Treasuries and gold, according to Reuters . Analysts at Goldman Sachs and other research houses sought to allay fears over the impact of the EU crisis on oil specifically, pointing out that Britain’s demand for fuel was negligible at the global level. Oil prices rose slightly early on Monday on some of that sentiment, before slipping again. Market intelligence firm, Genscape’s report of a draw of more than 1.3 million barrels at the Cushing, Oklahoma, delivery point for US crude futures provided little support. The dollar was up almost one per cent, near Friday’s three-month high, making oil and other commodities priced in the greenback less attractive to holders of the euro and other currencies. “We feel that a market shock such as Brexit can often induce enough chart damage to force a major long liquidation phase,” Jim Ritterbusch of Chicago-based oil market consultancy, Ritterbusch & Associates, was quoted to have said. www.punchng.com/oil-price-slumps-46-amid-brexit-concerns/ |
Re: Oil Price Slumps To $46 Amid Brexit Concerns by IamSimi(m): 6:35am On Jun 28, 2016 |
It is well 2 Likes 1 Share |
Re: Oil Price Slumps To $46 Amid Brexit Concerns by brunofarad(m): 7:15am On Jun 28, 2016 |
interesting No matter how bad the economy is....... We will survive Don't forget to LIKE my profile picture After checking on IT 5 Likes 1 Share |
Re: Oil Price Slumps To $46 Amid Brexit Concerns by Henrick007: 7:16am On Jun 28, 2016 |
Why arrest innocent people nd tag them as awawa? A friend of mine was arrested yesterday around dopemu... I guess he had an opportunity to use his phone at the station or someone is using his phone..... This is his last Facebook update...Oh Allah you are the all knower you have knowledge than everyone am among the victims o just because I rescue an accident o. Here the photos of the accident car I save life God save our life's tooooooo n see what posted about me o GOD Have Mercy The other suspects are Ajayi Babatunde Lukumon, 29; Ajose Anthony, 24; Adebayo Nurudeen, 32; Olayemi Lasege, 38; Sanusi Afeez, 23; Popoola Fatai, 30; Popoola Yakubu, 27; Ajibade Oluwafemi, 20; Opeye-mi Oluwasola, 33; Adewunmi Oluwatobi, 21; Akerele Sunday, 25; Timothy Ogar, 32; Actor Amechi, 21; Jimoh Sanni, 30, and Owolabi Adediran 27. Suspects’ father mourn Lamenting, the father of two of the suspects (Popoola Fatai and Popoola Yakubu), Alhaji Musibaudeen Popoola, 66, said he had warned his children to stop following these bad gangs around Dopemu area. Alhaji Popoola said: “I found it extremely difficult to believe when I was told that two of my sons were among those arrested members of Awawa Boys. “I only came, as a disciplined father, to tell them that the end has come. It is going to be a big lesson to other children that they must obey their parents.” It was learned that operatives of the Lagos State Task Force arrested the cult members at Dopemu area of Agege after they received intelligence report on the disturbing activities of notorious Awawa Boys. It was gathered that during the operation, which was carried out at midnight and led by SP Olayinka Egbeyemi, Chairman, Lagos State Task Force, the suspects and other affiliated group leaders fought the officers with dangerous weapons before they were overpowered. Reacting to the arrest, the Commissioner of Police, Mr. Fatai Owoseni, directed that the suspects should all be immediately charged to court. Read more at: http://www.vanguardngr. com/2016/06/raped-five-girls-awawa-boy/ 1 Like |
Re: Oil Price Slumps To $46 Amid Brexit Concerns by SeverusSnape(m): 7:16am On Jun 28, 2016 |
Bubu should diversify as soon as possible, get your eyes off oil. Or better still, Stabilize the price like you promised. 9 Likes |
Re: Oil Price Slumps To $46 Amid Brexit Concerns by Omooba77: 7:16am On Jun 28, 2016 |
The world is going back to stone Age of hunting and gathering 1 Like |
Re: Oil Price Slumps To $46 Amid Brexit Concerns by Noblebrown7(m): 7:16am On Jun 28, 2016 |
God help us |
Re: Oil Price Slumps To $46 Amid Brexit Concerns by MuyiRano(m): 7:17am On Jun 28, 2016 |
Have you pray(ED) for Nigeria today? God bless Nigeria. 1 Like |
Re: Oil Price Slumps To $46 Amid Brexit Concerns by Goldenheart(m): 7:17am On Jun 28, 2016 |
#oh well |
Re: Oil Price Slumps To $46 Amid Brexit Concerns by mikaael(m): 7:17am On Jun 28, 2016 |
we will survive |
Re: Oil Price Slumps To $46 Amid Brexit Concerns by tdayof(m): 7:19am On Jun 28, 2016 |
Let fuel prices keep going down.. It doesn't change the fact that I am still going to be successful. No matter how bad it is. 2 Likes |
Re: Oil Price Slumps To $46 Amid Brexit Concerns by Nobody: 7:20am On Jun 28, 2016 |
How i wished those thieves had used the money judiciously when it was over 100 dollars per barrel. 1 Like |
Re: Oil Price Slumps To $46 Amid Brexit Concerns by Nobody: 7:21am On Jun 28, 2016 |
Another brexit news. Yawn. |
Re: Oil Price Slumps To $46 Amid Brexit Concerns by Nobody: 7:22am On Jun 28, 2016 |
SeverusSnape:..... just imagine this trash! smh!! 3 Likes |
Re: Oil Price Slumps To $46 Amid Brexit Concerns by Project400: 7:25am On Jun 28, 2016 |
Interesting |
Re: Oil Price Slumps To $46 Amid Brexit Concerns by olaasiwaju: 7:26am On Jun 28, 2016 |
Alhamudulilahi. |
Re: Oil Price Slumps To $46 Amid Brexit Concerns by Nobody: 7:29am On Jun 28, 2016 |
Nigeria should invest heavily in agriculture now 1 Like |
Re: Oil Price Slumps To $46 Amid Brexit Concerns by popesam1(m): 7:29am On Jun 28, 2016 |
Bubu abeg ojo n lo |
Re: Oil Price Slumps To $46 Amid Brexit Concerns by Nobody: 7:42am On Jun 28, 2016 |
Oh God please ooo, if not for APC's sake, just for my sake and that of many Nigerians challenged by the present economic hiccups. Let the price of oil stabilise bikonu! 1 Like |
Re: Oil Price Slumps To $46 Amid Brexit Concerns by Viktor1983(m): 7:42am On Jun 28, 2016 |
franciskaine: The earlier it gets to $5 per barrel the better... Diversify or die mode. |
Re: Oil Price Slumps To $46 Amid Brexit Concerns by crunchyg: 7:47am On Jun 28, 2016 |
Hhmm |
Re: Oil Price Slumps To $46 Amid Brexit Concerns by bonechamberlain(m): 7:51am On Jun 28, 2016 |
I dont know why the fg fix their eye constantly on oil, its now the right time to diversify, oil money is gradually dwindling. |
Re: Oil Price Slumps To $46 Amid Brexit Concerns by Pedrogold(m): 7:55am On Jun 28, 2016 |
All powerful and merciful Father, You are the
God of
Justice, Love and Peace. You rule over all the
Nations
on earth. Power and Might are in Your hands
and No
one can withstand You.
We present Our country Nigeria before You.
We praise
and thank You for You are the source of all
We have
and are. We are sorry for all the sins We have
committed and for the good deeds We failed
to do. In
Your Loving forgiveness, keep Us safe from
the
punishments We deserve. Lord, We are
weighed down
not only by uncertainties, but also by moral,
economic
and political problems.
Listen to the cries of your people who
confidently turn
to you. God of infinite goodness, Our strength
in
adversity, Our health in weakness, Our comfort
in
sorrow, Be merciful to Us Your people. Spare
this
Nation Nigeria from chaos, anarchy and
doom. Bless
Us with your kingdom of Justice, Love and
Peace.
We ask this through Christ Our Lord, Amen. 4 Likes |
Re: Oil Price Slumps To $46 Amid Brexit Concerns by Nobody: 8:05am On Jun 28, 2016 |
Viktor1983:you mean ur source of income? |
Re: Oil Price Slumps To $46 Amid Brexit Concerns by Nobody: 8:08am On Jun 28, 2016 |
Pedrogold:Amen! |
Re: Oil Price Slumps To $46 Amid Brexit Concerns by Nobody: 8:34am On Jun 28, 2016 |
Am sorry for whoever will be disappointed at my statement this morning. But I don't care if it gets down to 1$ per barrel. We've already seen hell in Nigeria. Of what use is it to the common man even if it goes up to 100$? Our thieving politicians know how to embezzle the funds. 1 Like |
Re: Oil Price Slumps To $46 Amid Brexit Concerns by Nobody: 8:36am On Jun 28, 2016 |
franciskaine:Which benefits u dey receive from the income? 1 Like |
Re: Oil Price Slumps To $46 Amid Brexit Concerns by Nobody: 8:42am On Jun 28, 2016 |
GreenBusiness:The same agriculture fulanis don't allow people to do or which one? Go to Benue State, Nassarawa State and see how people are displaced from their homes. One of my church members testified of how he escaped them in his farm. If not for God's intervention, they would have killed him. Abeg talk something better. Make oil money drop to 1$. The common man will still survive it. Politicians have failed us. Nassarawa state government has been paying her workers in percentages since last year. Imagine someone being paid 2000 as salary for one month. There's so much hunger in the land, yet fulanis won't allow farmers to farm. |
Re: Oil Price Slumps To $46 Amid Brexit Concerns by Nobody: 8:53am On Jun 28, 2016 |
DavidGodwin:we dint receive any benefit simply because PDP mismanaged it for 16yrs. 1 Like |
Re: Oil Price Slumps To $46 Amid Brexit Concerns by Omooba77: 9:16am On Jun 28, 2016 |
franciskaine: Most of the same people in PDP are in power now they just change party name . A procurement officer just bought houses in Emirates |
Re: Oil Price Slumps To $46 Amid Brexit Concerns by Nobody: 9:18am On Jun 28, 2016 |
The beginning of the end. In one fell swoop, Britain put the entire world in trouble, again. |
Re: Oil Price Slumps To $46 Amid Brexit Concerns by Nobody: 9:22am On Jun 28, 2016 |
Omooba77:if change of nomenclature can change people den it's a welcome devt. |
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