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/

It is well

interesting



No matter how bad the economy is.......
We will survive





Don't forget to LIKE my profile picture
After checking on IT

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/

Bubu should diversify as soon as possible, get your eyes off oil. Or better still, Stabilize the price like you promised.

The world is going back to stone Age of hunting and gathering

God help us

Have you pray(ED) for Nigeria today?
God bless Nigeria.

#oh well

we will survive

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.

How i wished those thieves had used the money judiciously when it was over 100 dollars per barrel.

Another brexit news. Yawn.

SeverusSnape:
Bubu should diversify as soon as possible, get your eyes off oil. Or better still, Stabilize the price like you promised.

..... just imagine this trash! smh!!

Interesting

Alhamudulilahi.

Nigeria should invest heavily in agriculture now

Bubu abeg ojo n lo

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!

franciskaine:
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!

The earlier it gets to $5 per barrel the better...
Diversify or die mode.

Hhmm

I dont know why the fg fix their eye constantly on oil, its now the right time to diversify, oil money is gradually dwindling.

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.

Viktor1983:



The earlier it gets to $5 per barrel the better

you mean ur source of income?

Pedrogold:
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.

Amen!

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.

franciskaine:
you mean ur source of income?

Which benefits u dey receive from the income?

GreenBusiness:
Nigeria should invest heavily in agriculture now

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.

DavidGodwin:

Which benefits u dey receive from the income?

we dint receive any benefit simply because PDP mismanaged it for 16yrs.

franciskaine:
we dint receive any benefit simply because PDP mismanaged it for 16yrs.

Most of the same people in PDP are in power now they just change party name .
A procurement officer just bought houses in Emirates

The beginning of the end. In one fell swoop, Britain put the entire world in trouble, again.

Omooba77:


Most of the same people in PDP are in power now they just change party name .
A procurement officer just bought houses in Emirates

if change of nomenclature can change people den it's a welcome devt.