₦airaland Forum

omoredia:
Upon this Nigeria will still have excuse not to take advantage of the higher oil price. A cursed nation is a cursed nation

Boladogailese:
So more money for my darling country

FreeStuffsNG:
Not really. Venuezela oil is heavy oil and not lucrative per se.

Trump wanted a quick win before oil trade starts so he can fence off domestic political consequences but things are spiralling out of control fast.

HacheNoire:
You know game!

Jump into it first minute of trading. My patience with OANDO will finally pay off.

Razzness:
This is going to be good for us as an oil producing country right. Or am I missing something.

Rubyjade:
Yes you are missing something.

Rubyjade:
You wouldn't see it to buy.

FreeStuffsNG:
By Seher Dareen and Dmitry Zhdannikov


Brent crude jumped 10% to about $80 a barrel over the counter on Sunday, oil traders said, while analysts predicted that prices could climb as high as $100 after U.S. and Israeli strikes on Iran plunged the Middle East into a new war.

The global oil benchmark has rallied this year and reached $73 a barrel on Friday for its highest since July, buoyed by growing concern over the potential attacks that arrived a day later. Futures trading is closed over the weekend.


"While the military attacks are themselves supportive for oil prices, the key factor here is the closing of the Strait of Hormuz," said Ajay Parmar, director of energy and refining at ICIS.

Most tanker owners, oil majors and trading houses have suspended crude oil, fuel and liquefied natural gas shipments via the Strait of Hormuz, trade sources said, after Tehran warned ships against moving through the waterway. More than 20% of global oil is moved through the Strait of Hormuz.

"We expect prices to open (after the weekend) much closer to $100 a barrel and perhaps exceed that level if we see a prolonged outage of the Strait," Parmar said.

Middle East leaders have warned Washington that a war on Iran could lead to oil prices jumping to more than $100 a barrel, said RBC analyst Helima Croft. Rabobank analysts slightly less bullish, seeing prices holding above $90 a barrel in the near term.

The OPEC+ group of oil producers agreed on Sunday to raise output by 206,000 barrels per day (bpd) from April, a modest increase representing less than 0.2% of global demand.

While some alternate infrastructure could be used to bypass the Strait of Hormuz, the net impact from its closure would be a loss of 8 million to 10 million bpd of crude oil supply even after diverting some flows through Saudi Arabia’s East-West pipeline and Abu Dhabi’s pipeline, said Rystad energy economist Jorge Leon.

© Reuters.
Rystad expects prices to rise by $20 to about $92 a barrel when trade opens.

The Iran crisis also prompted Asian governments and refiners to assess oil stockpiles and alternative shipping routes and supplies. Kpler analysts said in a webinar on Sunday that India might turn to Russian oil to make up for potential Middle East supply loss.

https://www.investing.com/news/commodities-news/oil-jumps-10-on-iran-conflict-and-could-spike-to-100-a-barrel-analysts-say-4533502

FreeStuffsNG:
The Iran crisis also prompted Asian governments and refiners to assess oil stockpiles and alternative shipping routes and supplies.

"While the military attacks are themselves supportive for oil prices, the key factor here is the closing of the Strait of Hormuz," said Ajay Parmar, director of energy and refining at ICIS.

Trump wanted a quick win, tap and go like he did in Venezuela. He thought he and his proxy in Occupied Palestine would have finished off Iran in few hours and by this morning before oil markets open.

Iran has held him and his proxy. Oil will brace up and he becomes his own casualty for what some US Senators called " idiotic" military operation.

Meanwhile, Japada of Europeans in occupied Palestine, to Europe where they came from has started. I thought the hyped domes , slings and THAAD Patriots are working

MICHEALADEX:
Good for Nigeria

This was the boom period Jonathan squandered all the money we made in 2011 as a result of the Arab Spring.

Am sure tinubu will be best to utilize this boom

MasterTeeUSA:
are you sure you didnt fail Math class? Please what was the Fed Govt Benchmark? How is $80 or $100 almost times 2?

FreeStuffsNG:
By Seher Dareen and Dmitry Zhdannikov




https://www.investing.com/news/commodities-news/oil-jumps-10-on-iran-conflict-and-could-spike-to-100-a-barrel-analysts-say-4533502

Darekiki:
I pity you. If you are cursing the nation and always wishing bad . Is just like someone cursing his/her root.
It can not be well with them that curse the nation.
Even when some people are excelling.
When God saw that the earth full of darkness he decree light.

I weep for many of you.
See be ready to travel out bcus the land your curse is your root. Only travelling will make life better for many of you who has curse the land. You decide your fate.

Conservarmy:
Enemies of progress, your kind will continue to envy and jealous Yoruba people. We understand that it is your destiny just like the devil will always envy and jealous God.

Mattswaggz:
We would hardly see any benefits from it as an oil producing country though......na Yekini and his boys pocket that'll get fatter.

ElSudani:
If you are expecting a few dollars transfered to your account as a result then you are sorely mistaken. But there's a real possibility that some oil producing countries like Nigeria may get more for their oil.

Babatunjo:
Plenty oil revenue money for the Nigerian government this year.. that's almost times 2 of the benchmark they planned the budget on.

MrPresident1:
Petrol prices will rise in Nigeria and the people will groan more. Dangote will increase the price of petrol in tandem with 'international prices'

Every producer wants the prices of his products to go up along with increasing demand so he can make more profits. The Nigerian situation is the paradox, if oil prices increases in the international markets, our misery increases with it.

The only producer in the world who groans and whose life becomes more miserable when the demand and price of the thing he produces free of charge goes up.

gideonvalor98:
Some of you don't have knowledge of what you do type. You just wake up and type what comes to your head.

Kalashnikov49:
They need to come to Nigeria, so the oil price will be $1000 per barrel , so that Tinubu will use it and develop Nigeria with his propaganda and audio development lamba.

Forget banter on NL. Tinubu is a certified failure in all aspects of Positive Governance. The Populace don't even believe their propaganda anymore. That is why they are busy attacking voices that don't support and call out their failures.

Such a sophisticated shame

Kalashnikov49:
They need to come to Nigeria, so the oil price will be $1000 per barrel , so that Tinubu will use it and develop Nigeria with his propaganda and audio development lamba.

Forget banter on NL. Tinubu is a certified failure in all aspects of Positive Governance. The Populace don't even believe their propaganda anymore. That is why they are busy attacking voices that don't support and call out their failures.

Such a sophisticated shame

All these will not make Nigerians vote for the gbajue from anambra state.

Imagine trying to force a failed fmr governor with no direction or purpose on Nigeria.

zionstaar75:
cry harder, but make provision for aspirin because 5 years of crying still ahead of you

FreeStuffsNG:
Please speak for yourself. Your type never see anything good in your own country, land and leaders but will go and sacrifice yourself in unmarked graves fightiing for Trump and Putin.

How can the land bless you when you never expect the land to bless you. That itself is self sabotage and manifests in your life.