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Brent gained marginally by 0.07% to $90.16pb

Brent inched higher by 0.07% to $90.16pb today. The rise in Brent is driven by the U.S. decision to impose new sanctions on Iran following its weekend attack on Israel. The gains were further supported after the Israeli war cabinet met and resolved to respond to the Iranian attack. Meanwhile, Nigeria’s crude oil production declined by 6.88% to 1.23 million barrels per day in March. This will further reduce Nigeria’s dollar inflow at a time when it is desperately needed.

FDC’s senior associate, Dumebi Oluwole, discussed these and other burning economic issues on Channels TV Business Morning Programme.

Click the link  to watch the video.