Friday, October 12, 2018 / 04:18 PM / FDC
Oil prices have fallen sharply by 1.6% partly because of higher US interest rates and also as a result of fears of slowing global growth (3.7%).
Any further retreat in prices could easily erode the stability in the Nigerian forex market.
However, since this is a widespread fall across most commodities, we expect the oil price slump to be temporary and a recovery in November.
This is a snapshot of the global and domestic developments in the commodities market this week.