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Brent slipped 0.20% as Norway’s Sverdrup begins partial production

Brent futures declined by 0.20% to $73.15pb after production partially resumed at Norway’s Johan Sverdrup oilfield. The facility experienced a temporary shutdown on Monday, November 18, due to an onshore power outage. However, supply risks remain heightened as the Russian-Ukraine war could escalate after the U.S. authorized Ukraine to use its missiles on Russian territory.

Merry Xmas as the price of rice falls by 13.3% (N104,000)

The price of a 50kg bag of long-grain rice dropped 13.3% to N104,000 in November from N120,000 in September. This decline is driven by increased supply after India lifted its rice export ban in October. This led other exporters, like Thailand and Vietnam, to lower prices. The Indian Prime Minister just concluded a state visit to Nigeria.

FDC’s senior associate, Dumebi Oluwole, and analyst, Rosemary Adibe, discussed these and other burning economic issues on Channels TV Business Morning and Business Incorporated programmes, respectively.

Click the link to watch the video.

Enjoy your read!