₦airaland Forum

ARADEL. ±
CONOIL. ±
ETERNA. -10.00%
OandO. -4.28%
SEPLAT. ±

No 'policy response' can stop the rise in crude prices

The damage is going to take months to unwind, commodities guru told Bloomberg TV

The International Energy Agency announced the release of an unprecedented amount of crude oil from its reserves Wednesday.

Wednesday brought the strongest effort so far to ensure adequate global supplies of crude oil amid the conflict in the Middle East - but commodities guru Jeff Currie said the International Energy Agency's decision to release an unprecedented amount of crude from its reserves won't halt climbing oil prices

"There is no policy response that can stop this ascent in crude - none," Jeff Currie, chief strategy officer of Energy Pathways at Carlyle Group, told Bloomberg on Wednesday.

Oil traders Wednesday also appeared unconvinced that the release will help ease the tightness in supplies. U.S. benchmark West Texas Intermediate crude for April delivery (CLJ26) (CL.1) climbed by 4.6% to settle at $87.25 a barrel, while global benchmark May Brent (BRNK26) (BRN00) added 4.8% to end at $91.98 a barrel.

Global supply chains have been disrupted all over the world as a result of the Iran conflict, Currie said in the Bloomberg interview. Ships are in the wrong places, insurance policies on those ships have been canceled, and production has been shut down in places like Saudi Arabia, Iraq and the UAE, he noted.

"The damage is going to take months to unwind," Currie said.

He added that "flow rate" is what matters following the IEA's decision to release oil from its reserves. Currie estimated that the maximum amount of oil that can flow out of the reserves is 2 million barrels per day, so the 400 million barrels released by the IEA could take 200 days to flow out.

Put in the context of the overall disruption to the oil market - which could be around 18 million barrels per day - the impact of the IEA's release is "miniscule," Currie said.

I highlighted this but someone said it is the trend with palmoil coys...

Sunrisepebble:
I don’t have a recommendation. I exited earlier in the year and haven’t looked at it since.
The Q4 results YoY were weaker for the palm oil companies. I don’t know why. Perhaps because of this.

https://businessday.ng/pro/article/palm-oil-growers-cry-foul-as-imports-eat-into-profits/?amp

@Panadee

I think the four-letter d*ng has been added to the ban list.

KarlTom:
Diingg

Diingg

OandO

CRO Consortium (Calypso Refinery Operations Ltd), one of the three bidders for the lease and operation of the Petrotrin Refinery is in active discussion with the government of T&T.

Last month, PM Kamla Persad-­Bissessar, met with US Secretary of State Marco Rubio and restarting the refinery formed part of their discussions with support from the United States Department of Energy.

Not so for Smart traders...

ppogba:
Market has been bad for days now.

Suddenly, all the analysis that can lead to paralysis, all the expert and guru opinions seem to be drying up on a daily basis. You come to this section of Nairaland and after two hours of being away for a while, the same page remains un- turned.

The likes of the fellow always shouting Failed economy and disgraced president and the others have disappeared.


Las las, everybody go dey alrighty.

ARADEL. ±
CONOIL. ±
ETERNA. -7.84%
OandO. -0.59%
SEPLAT. ±

....

No, I didn't
I got tired of waiting and bought more OandO at sub 40 earlier this month...

debeey87:
Did you buy Conoil at your 150 price target?

Without belittling your right to air your opinion, I expected you to drop the bigger picture but you didn't.

I have attached the next paragraph to your earlier SC.

"A new policy has been introduced... "

Enjoy

https://www.bloomberg.com/news/articles/2026-03-10/nigeria-halts-gasoline-import-permits-in-a-win-for-dangote

jckgroup1:
Since, I am not entitled to my opinion without being given haterz title.

Summarize attached Bloomberg report in one word please.

Why suspend licenses? it is for greater good of the nation and benefit of ordinary Nigerians.

Thank you for your attention to this matter.

NASCON shed 10%

Crude oil is cooking. The oven is the CDU...

chimex38:
Wonder what's cooking in the downstream sector.

You bought the high so I understand...

ChukaLupin:
Honestly I don't get it

I sold my Oando at N71 and made a loss of N4 per share
Never looked back since then

Let the kettle holder fill it with hopium and copium

deathwing:
I've never seen this kind of attachment to a sideways stock before. Abeg sell your Oando so you can have peace of mind, because I don't understand all this hopium and copium that is displayed here everyday.

...

megawealth01:
If OANDO close full bid today then I assume Wale means business this time around...

We might then see wonders from the MM 😜

ARADEL. ±
CONOIL. +9.95%
ETERNA. +9.56%
OandO. -7.59%
SEPLAT. ±

The BOT is vexed today...

It's a two-edged swooord...

robobo:
i dont think it is in his interest that the price should stray too far from 50 until the RI is concluded and bedded.

Only thereafter will/could the price then take of to then anchor debt to equity agreed price. so una still get longggggg way to go.

The BOT is running wild

PassiveInvestor:
Ding On behalf of Karl

PUMP PRICE HIKE ⛽

David Bird, managing director (MD) of the Dangote Refinery, says the refinery incurs costs from 47 government agencies , adding some form of fees to the final pump price of petrol in the country.

Speaking during the a press conference in Lagos on Monday, Bird said the Federal Government of Nigeria still treats the refinery as the customer of last resort, suggesting that the best crude oil grades are sold to interantional buyers...

Itzlinda:


I am looking for another entry una wan still reduce my capital

make una pity me now

ARADEL. +3.05%
CONOIL. +10.00%
ETERNA. +9.92%
OandO. +9.96%
SEPLAT. ±

It flew over your head

ojesymsym:
What in the name of God did I just read?

In an open market that there should be a law that clips growth and innovation?

Abeg let just stick to the stock that brought us here, all these bad belle against DR masked as hatred of monopoly does not cut it for me.

Hold your PZ tight.

Reading between the lines, I detect a tone of envy/bitterness at DANGREFINE.
We should be grateful, Alhaji decided to brave the odds.
Now MANY refineries are in the works (some at 75% completion).

Stop abusing the word MONOPOLY!

jckgroup1:
I have read views and opinions but we all agree that DangRefine is a business and it's all about making money and not to serve/benefit the masses primarily.

I still stand with my view that we need two or more mega refineries, as monopoly has never served/benefitted the masses.

I appreciate the huge contribution of DangRefine to the nation but we need more refineries and even Impoorrters. Free market economy and resultant cheaper alternatives than monopoly. Hence, it may seem that I don't appreciate DangRefine but I don't celebrate monopoly either.

Absolute power corrupts absolutely

Oya bend down select...

mikeapollo:
Na today you get answer for me?
Human beings!