Brent futures slides below $80pb as the Red Sea disruption eases
The price of Brent on Thursday fell by 1.52% to $78.44pb after steadying at $80pb in the previous session as shipping disruptions along the Red Sea eased. The attacks from Yemen’s Houthi forced major shipping and oil companies to suspend transit through the Red Sea, thereby increasing Brent prices slightly above $80pb. However, oil shipping companies have returned to the Red Sea, indicating a pickup in crude oil supply.
The price of Irish potatoes climb on lingering insecurity in Plateau state
The price of a 100kg bag of Irish potato, a major staple in Nigeria, has spiked by 120% to N110,000 from N50,000 a year ago. The price increase is primarily driven by insecurity in potato-producing states, particularly Plateau, which accounts for 80-90% of Irish potatoes grown in Nigeria. The price of potatoes is expected to remain high as insecurity continues to threaten output.
These and other burning economic issues were discussed on Channels TV Business Morning Programme by FDC’s MD, Mr. Bismarck Rewane and Business Incorporated by Associate, Miriam Odey.
Click the link to watch the video.
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