The US markets were closed for the independence holiday. In global trading, oil moved 0.18% higher to $49.68pb on news of a slowdown in US drilling activities.

In Nigeria, Schlumberger signed a $700m deal with NNPC for the Anyala and Madu fields. The operator is first exploration and production.

The PMI expansion to 55.9 is also cherry news for manufacturers.

The attached bulletin addresses price movements in the domestic and global commodities market.

Enjoy your read!