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.
In the slides, these and other issues were discussed on the Channels TV Business Morning programme today.
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