Tuesday, July 30, 2019 /05:45PM / by
Brent has traded within a tight band of $61-$64pb in the last two weeks. However, there is a possibility of crude oil prices inching closer to $70pb in the coming days as the market anticipates an interest rate cut by the US Fed at its meeting on July 30/31.
Higher oil prices is positive for Nigeria’s export revenue, external buffers and exchange rate stability in the near term.
The attached slides addresses these and other issues in the domestic and global commodity markets.
1. Prospects Of Strong US Production To Push Down Grain Prices In The Coming Weeks