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Brent rose to $65.62pb

Brent futures climbed 0.12% to $65.62pb, fueled by uncertainty over U.S.-Iran nuclear negotiations. Iran cautioned that the talks would fail if uranium enrichment must cease, raising the risk of renewed U.S. sanctions on Iranian oil. This could push oil prices higher in the near term.

CBN holds rates unchanged at 27.5% pa

The CBN held its benchmark rate at 27.5%pa for the second time, citing uncertainty in near-term economic conditions. Although inflation eased in April to 23.71% from 24.23% in March, the committee emphasized that inflation remains elevated. The committee also warned that declining global oil prices and continued weakness of the naira could exert upward pressure on inflation.

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

Click the link below to watch the video.

Enjoy your read!