Wheat Prices Up By 1.29%; Driven By Lower Production In the US


Friday, April 5, 2019 03:34PM / FDC


Brent rose 0.14% to $69.41pb despite gloomy global economic forecasts and US inventory build-up. Shrinking global supply aided by OPEC and its allies cutting oil production and the US sanctions on Venezuela has left the market with less cushion to absorb unexpected oil disruption and propelled oil price to gain 29% YTD.

Demand however remains robust as analyst projects further rise in oil prices and this is positive for Nigeria’s fiscal and external buffers.

The slides below summarize the developments in the global and domestic commodities market.

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