Out of the 6 instruments in the energy commodity asset class, crude oil ended up ranking 3rd for the day in terms of price change relative to the day prior.
The oil stored in the us reserves can be used for the nation’s own needs or can be traded to capture price advantage, he said adding these two scenarios work when oil prices rise after india has bought and stored oil in us reserves….
N/central fought #ndigbo but is now being terrorized by those with whom they fought ndigbo.
So this gold bar is worth more than 10,000 barrels of nigeria’s crude oil which sells for less than $50 per barrel today.
The result will tell you simply that crude oil fuels crude corruption amongst officials of the federal government and in the last five years that critical voices are muzzled through military force and there is a semblance of police state in nigeria with protests being banned and protesters hounded and killed, the scale of corruption keeps growing signposted by the huge revenues made and stolen and the growing foreign debts by government officials….
Naija is a big ball of mendacious insanity & na my #saibaba i blame!
Groundbreaking of waltersmith modular refinery stopping crude oil theft nnf has identified several roles for the government, civil society, and citizens in this regard….
Mt kua, valued at n384m in 2009, omoh-jay nigeria limited was in 2019 granted an approval by the attorney-general of the federation and minister of justice, abubakar malami (san), to dispose the crude oil and diesel in four sea vessels through an open bid….
Those trading within the energy commodity asset class should know that crude oil was the worst performer in the class today.
We earn forex from crude then we spend the same forex and more forex on importation of petrol ⛽ and food.