Price of Brent crude oil fell more than 1 percent on Monday after Washington said it may grant Iran some waivers next month.

Brent crude oil declined from over $86 a barrel recorded last week to $83.53 a barrel on Monday. While the U.S. West Texas Intermediate (WTI) drop 54 cents to $73.80 per barrel.

U.S. sanctions are expected to target Iran’s crude oil exports from November 4 and further cut global oil supplies. A move experts believe will push global oil prices to $90 a barrel by Christmas and $100 a barrel by the New Year.

However, in an effort to force lower oil prices as largely demanded by President Trump, a U.S. government official said on Friday that the administration is considering some exemptions for countries that have already reduced their imports of Iranian oil.

A sign Iran oil exports won’t drop to zero in November as India alone is expected to buy 9 million barrels in November, according to a report by Reuters.

Accordingly, hedge funds cut their bullish bets on U.S. crude to the lowest level in almost a year, data showed on Friday.

Again, the ongoing trade war between the US and China also weighed on crude outlook on Monday, especially after data showed the world’s largest importer of crude oil, China’s, manufacturing purchasing managers index grew slower than expected for a second consecutive month.

Chinese stocks declined on Monday despite the People’s Bank of China lowering its bank’s reserve ratio. Another indication of weak business sentiment amid rising uncertainty.

https://investorsking.com/oil-prices-fall-as-u-s-signals-possible-waivers-on-iran-sanctions/

K

Toh

Ok o

I don't know why the world is so quiet and adamant towards the way US treat people.they are the problem of the world

Navalsadiq:
I don't know why the world is so quiet and adamant towards the way US treat people.they are the problem of the world

nah dem get the biggest economy

Space for sale.

Our President is waiting for the price of crude to sell above $100 per barrel before he can start any meaningful project.

Truth234:
Price of Brent crude oil fell more than 1 percent on Monday after Washington said it may grant Iran some waivers next month.

Brent crude oil declined from over $86 a barrel recorded last week to $83.53 a barrel on Monday. While the U.S. West Texas Intermediate (WTI) drop 54 cents to $73.80 per barrel.

U.S. sanctions are expected to target Iran’s crude oil exports from November 4 and further cut global oil supplies. A move experts believe will push global oil prices to $90 a barrel by Christmas and $100 a barrel by the New Year.

However, in an effort to force lower oil prices as largely demanded by President Trump, a U.S. government official said on Friday that the administration is considering some exemptions for countries that have already reduced their imports of Iranian oil.

A sign Iran oil exports won’t drop to zero in November as India alone is expected to buy 9 million barrels in November, according to a report by Reuters.

Accordingly, hedge funds cut their bullish bets on U.S. crude to the lowest level in almost a year, data showed on Friday.

Again, the ongoing trade war between the US and China also weighed on crude outlook on Monday, especially after data showed the world’s largest importer of crude oil, China’s, manufacturing purchasing managers index grew slower than expected for a second consecutive month.

Chinese stocks declined on Monday despite the People’s Bank of China lowering its bank’s reserve ratio. Another indication of weak business sentiment amid rising uncertainty.

https://investorsking.com/oil-prices-fall-as-u-s-signals-possible-waivers-on-iran-sanctions/

NIGERIA'S CRUDE OIL BASED ECONOMY WILL BEGIN TO SHILVER! with this fluctuation in pricing of crude oil.

Diversify the Nigeria economy into Agriculture and Solid Mineral including Information Technology and get the peace of mind.

Hmm

I don't know why the world is so quiet and adamant towards the way US treat people.they are the problem of the world
Who is the world?
You are saying these because you don't know or you're ignoring the dangers of Iran armed with Nuk

A lot of people are hailing Obama, they don't know our "Oyel" prices are rising a bit because of Trump's hardline stance.

Navalsadiq:
I don't know why the world is so quiet and adamant towards the way US treat people.they are the problem of the world

Who is the world?
You're saying these because you don't know or trying to ignore the dangers of Iran armed with Nuk

wink2015:


NIGERIA'S CRUDE OIL BASED ECONOMY WILL BEGIN TO SHILVER! with this fluctuation in pricing of crude oil.

Diversify the Nigeria economy into Agriculture and Solid Mineral including Information Technology and get the peace of mind.

Shiver?

Something wet go soon die?

If you know how far the world has gone in renewable energy.......

Floating solar and wind farms, more efficient solar PV cells, increased roll out of electric vehicles (cars, trucks, trains)...

We go soon hear am!

We seriously need to look beyond Oil....

alvan06:
Who is the world?
You're saying these because you don't know or trying to ignore the dangers of Iran armed with Nuk

Na u won arm dem with nuke?

Navalsadiq:
I don't know why the world is so quiet and adamant towards the way US treat people.they are the problem of the world

If person pass you , e pass you. Every school get head boy

We need to look beyond oil but our leaders ......

Lol!!! After EU that has been long term America's accomplice in evil enforcement decides to change gear and set up alternative to SWIFT and $$$ america has been using has weapon, they had no choice than to soft pedal and change.

I v said it on many occasions, the day EU stops obeying America's orders, that is when america will stop misbahving around the world.

erico2k2:

nah dem get the biggest economy

It doesn't matter, without trade the world's largest economy will suffer.

That is one of the reasons China is moving aggressively to Africa, new untapped market with potential to still grow above 10%.

erico2k2:

nah dem get the biggest economy

It is beyond economy, their are other intriguing things such as geopolitics, traditional allies sustainace of existing world order.

Bit by bit, Europe is getting fed up of America's antics and they are reducing their backing of America's foreign policies. This turn around is as a result of EU trying to create alternative system to SWIFT $$$ system which makes it is possible for america to use sanctions as a weapon. America knows EU took this step to protect her energy demand and america just has to please EU by exempting energy, this will discourage EU from setting up that alternative system.

godliman:
If person pass you , e pass you. Every school get head boy

bros if u feel say u get money na for ur own pocket.its ur type that sold ur brothers to slavery for mirror and other small incentives

alvan06:
Who is the world?
You're saying these because you don't know or trying to ignore the dangers of Iran armed with Nuk

lol words from a third grader

More reason to do some actualwork on the economy,

We have to remove subsidy for starters.....

And we have to have a plan to fix power.

Nigeria cannot rely on oil. The era of high oil price has gone.....since 2014.

kenn4rill:
Our President is waiting for the price of crude to sell above $100 per barrel before he can start any meaningful project.

On a more serious note, we cannot do anything meanigful with the current oil price...unless we take high loans

GEJ did a lot ofprojects with the oil money....but he benefited from high oil prices above $100 per barrel, plus he started out with $47bn in the reserve.Bubu , yes he is not so good....but he did have oil oscillating between $29-81 over the last 3 years....meaning he had to take loans at a higher rate than even GEJ to keep the budget balanced...and loans must be paid back.

Thing is, Bubu can get some easy money for projects by removing fuel subsidy...and channeling the cash into the treasury...while foreign investment flows in. He won't because most Nigerians won't let him. (Part of the reason why GEJ had cash to spend on sureP...was hispartial removal of subsidy. Too bad NLC was blind in 2012...).

According to FITCH...oil has to be at $140 per barrel before we can balance the books adequately

Truth234:


It doesn't matter, without trade the world's largest economy will suffer.

That is one of the reasons China is moving aggressively to Africa, new untapped market with potential to still grow above 10%.

U asked why, there goes ur answer.

Navalsadiq:
I don't know why the world is so quiet and adamant towards the way US treat people.they are the problem of the world

it sense bro the only countries that can stand usa in the world is russia+china+north korea if you stand in there way, hope you all knew what happen in iraq-syria and very soon venusula it almost happened to north korea but the fear of russia is the begining of usa wisdom

seunfly:


It is beyond economy, their are other intriguing things such as geopolitics, traditional allies sustainace of existing world order.

Bit by bit, Europe is getting fed up of America's antics and they are reducing their backing of America's foreign policies. This turn around is as a result of EU trying to create alternative system to SWIFT $$$ system which makes it is possible for america to use sanctions as a weapon. America knows EU took this step to protect her energy demand and america just has to please EU by exempting energy, this will discourage EU from setting up that alternative system.

what Energy are you talking about?And seriously Im findin it very hard to comprehend ur post.The Bigest economy boost teh biggest trade.

usa will be saying iran have nuks but you all know the amount they have i prefare china and russia to usa

I don't think they have the biggest economy but I am sure they have the strongest military.

erico2k2:

nah dem get the biggest economy

alvan06:
I don't know why the world is so quiet and adamant towards the way US treat people.they are the problem of the world
Who is the world?
You are saying these because you don't know or you're ignoring the dangers of Iran armed with Nuk

Which nuke would that be? Iran told you this?