Robust US Harvest to Fuel Concerns of Grains Oversupply

Proshare

Friday, September 14, 2018 / 1:40 PM / FDC    

Brent oil briefly touched $80pb before retreating to $78.23pb. The increase was partly due to concerns over tightening global supply amid potential US sanctions on Iran. 

The reimposition of US sanctions will remain a potential trigger for modest oil price increases in 2018. 

At $78pb, the price of oil is 53% above the budget benchmark ($51pb) and remains supportive of external reserves and naira stability. 

The attached slides summarise the events that took place in the domestic and global commodity markets this week.

 

Proshare Nigeria Pvt. Ltd.


Proshare Nigeria Pvt. Ltd.


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