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Brent plunges to a two-month low of $72.99pb

Brent futures lost 2.39% to trade at $72.99pb due to uncertainty surrounding the global demand for oil and the absence of clear economic signals from China. In the near term, oil prices are expected to further trend downward, driven by the possibility of a peace deal between Russia and Ukraine.

The price of a 5-litre keg of palm oil jumped to N12,000

The price of a 5-litre keg of palm oil surged by 30% to N12,000 in February from N9,500 in January, driven by strong industrial and consumer demand amid lower production. Indonesia’s recent export ban on used cooking oils could further raise global palm oil prices in the near term.

FDC’s M.D., Mr. Bismarck Rewane, and analyst Miriam Odey discussed these and other burning economic issues on Channels TV Business Morning and Business Incorporated programmes respectively.

Click the link below to watch the video.

Enjoy your read!