{"id":122155,"date":"2024-10-17T17:03:44","date_gmt":"2024-10-17T17:03:44","guid":{"rendered":"https:\/\/fdcng.com\/?p=122155"},"modified":"2024-10-17T17:03:44","modified_gmt":"2024-10-17T17:03:44","slug":"fdc-commodity-update-october-17-2024","status":"publish","type":"post","link":"https:\/\/fdcng.com\/fdc-commodity-update-october-17-2024\/","title":{"rendered":"FDC COMMODITY UPDATE &#8211; October 17, 2024"},"content":{"rendered":"<p>[vc_row][vc_column]<div class=\"gem-button-container gem-button-position-inline\"><a class=\"gem-button gem-button-size-small gem-button-style-flat gem-button-text-weight-normal\" style=\"border-radius: 3px;background-color: #ddbd89;color: #ffffff;\" onmouseleave=\"this.style.backgroundColor='#ddbd89';this.style.color='#ffffff';\" onmouseenter=\"this.style.backgroundColor='#ddccaa';this.style.color='#000000';\" href=\"https:\/\/youtu.be\/kXauAi979FM?si=Jlvwe5N0SswpsQK-\" target=\"_blank\">LINK TO YOUTUBE VIDEO<\/a><\/div> <div class=\"gem-button-container gem-button-position-inline\"><a class=\"gem-button gem-button-size-small gem-button-style-flat gem-button-text-weight-normal\" style=\"border-radius: 3px;background-color: #ddbd89;color: #ffffff;\" onmouseleave=\"this.style.backgroundColor='#ddbd89';this.style.color='#ffffff';\" onmouseenter=\"this.style.backgroundColor='#ddccaa';this.style.color='#000000';\" href=\"https:\/\/fdcng.com\/wp-content\/uploads\/2024\/10\/Commodities-slides-October-17th-2024.pdf\" target=\"_blank\">DOWNLOAD PDF<\/a><\/div> [\/vc_column][\/vc_row][vc_row][vc_column][vc_column_text]Dear Subscriber,<\/p>\n<p><strong><em>Brent gained 0.11% due to an unexpected drop in US crude inventories<\/em><\/strong><\/p>\n<p>Brent futures rose 0.11% to $74.29pb, driven by a 33.05% decline in U.S. inventories to 3.2mb. This contradicts analysts&#8217; expectations of an increase of 2.3mb, signaling stronger-than-expected demand. Rising geopolitical tensions, particularly Israel\u2019s airstrikes on Lebanon, also supported prices. In the short term, oil prices will likely remain bullish, especially as global interest rates fall. The ECB cut its benchmark interest rate to 3.25% today from 3.5%, potentially boosting demand.<\/p>\n<p><strong><em>5 litres of vegetable cooking oil skyrocketed to N15,000<\/em><\/strong>.<\/p>\n<p>The price of a 5-litre vegetable cooking oil has doubled to N15,000 in October from N7,500 (yoy). This is mainly due to supply disruptions from the Russia-Ukraine war and export shocks from key producers Argentina and Brazil. Higher vegetable oil prices are expected to shift consumer demand towards palm oil in the near term.<\/p>\n<p>FDC\u2019s managers, Dr. Ifeoma Nwokolo and Terver Kumeka, discussed these and other burning economic issues on Channels TV Business Morning and Business Incorporated programmes, respectively.<\/p>\n<p>Click the link to watch the video.<\/p>\n<p>Enjoy your read![\/vc_column_text][\/vc_column][\/vc_row]<\/p>\n","protected":false},"excerpt":{"rendered":"<p>[vc_row][vc_column][\/vc_column][\/vc_row][vc_row][vc_column][vc_column_text]Dear Subscriber, Brent gained 0.11% due to an unexpected drop in US crude inventories Brent futures rose 0.11% to $74.29pb,&#8230;<\/p>\n","protected":false},"author":11,"featured_media":122154,"comment_status":"closed","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[18,110],"tags":[],"_links":{"self":[{"href":"https:\/\/fdcng.com\/wp-json\/wp\/v2\/posts\/122155"}],"collection":[{"href":"https:\/\/fdcng.com\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/fdcng.com\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/fdcng.com\/wp-json\/wp\/v2\/users\/11"}],"replies":[{"embeddable":true,"href":"https:\/\/fdcng.com\/wp-json\/wp\/v2\/comments?post=122155"}],"version-history":[{"count":1,"href":"https:\/\/fdcng.com\/wp-json\/wp\/v2\/posts\/122155\/revisions"}],"predecessor-version":[{"id":122156,"href":"https:\/\/fdcng.com\/wp-json\/wp\/v2\/posts\/122155\/revisions\/122156"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/fdcng.com\/wp-json\/wp\/v2\/media\/122154"}],"wp:attachment":[{"href":"https:\/\/fdcng.com\/wp-json\/wp\/v2\/media?parent=122155"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/fdcng.com\/wp-json\/wp\/v2\/categories?post=122155"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/fdcng.com\/wp-json\/wp\/v2\/tags?post=122155"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}
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