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Brent price retreats to $90pb

Brent futures lost 5.41% to $90.67pb on October 3 from the previous week, despite lingering supply concerns and a rebound in Chinese demand. Oil prices are cooling on the back of higher global interest rates, and a stronger US dollar, making commodities more expensive. We expect the bearish trend in oil prices to continue in the coming days as investors tread cautiously ahead of the next Fed meeting in November.

Cement prices fall to N3500 per bag

On October 2, BUA Cement Plc announced a reduction of the retail price of cement by 57% to N3,500 from N5,500 per bag. However, the price reduction is yet to take effect in the open market. BUA made this strategic decision in spite of its position as a price follower in a highly competitive market.

These and other burning economic issues were discussed on the Business Morning programme on Channels TV by FDC’s senior analyst.

Click the link below to watch the video.

Enjoy your read!