Economy
Brent, WTI Crude Prices Rise amidst Global Tension
By Adedapo Adesanya
The price of the Brent Crude oil saw a 1.38% increase or 86 Cents to peak at $63.33 at the global oil market on Monday, July 22, 2019.
The West Texas International (WTI) crude oil recorded a 46 Cents or 0.82% change to rise to $56.22 per barrel on the market.
As oil prices have been yanked higher and lower depending on shifting sentiment between U.S. and Iran as well as from the U.S.-China trade negotiations. In recent week, with the rising geopolitical tension in the Middle East and the prospect of an easing of tensions between the U.S. and China – both factors pushed up crude.
Now, both are heading in the other direction. Despite the U.S. shooting down an Iranian drone, both Washington and Tehran seem open to negotiating. On Thursday, Iranian foreign minister Javad Zarif made “a substantial move,” as he framed it, offering permanent nuclear inspections in return for the removal of U.S. sanctions. It’s not clear that this will lead to anything substantive, but both sides are (somewhat indirectly) talking again. This has dragged down oil.
At the same time, tensions are not easing between the U.S. and China. With both sides at an impasse and resigned to a drawn out affair, and the resulting downside risk to the economy has also undercut oil.
To be sure, these issues will likely continue to see seesawing sentiment with no definite conclusion in the near-term. “In the absence of these binary risks materializing, Brent could continue to trade in a $60 to $67/bbl range,” Bank of America Merrill Lynch said in a note.
The bank said that the market could actually see lower volatility amid declining speculative interest and the easing monetary policy from an array of central banks. Moreover, the oil market is relatively balanced right now from an inventory standpoint, with OECD stocks right around the five-year average. In other words, the risks to the upside and downside are relatively muted, and the result could be Brent bouncing around in the $60s.
Still, oil prices never stay quiet for too long. While Iran and China are making the most headlines when it comes to risks to oil, Bank of America sees a few other less-publicized factors as just as important.
By Aduragbemi Omiyale
The pre-registration training and examination for capital market operators (CMOs) for the second quarter of 2026 has been postponed.
Business Post gathered that the new date for the exercise is now Monday, June 15, 2026.
This information was disclosed by the Securities and Exchange Commission (SEC) through a circular on Monday, June 8, 2026.
The Nigerian capital market regulator stated that this postponement has also resulted in the extension of the deadline for registration to Friday, June 12, 2026.
In the notice today, the SEC expressed its regret for the inconvenience this action may cause operators, who had prepared for the initial date of the training and examination.
“Further to the recent circular on Q2 2026 Pre-registration Training and Examination, the Securities and Exchange Commission (SEC) hereby informs all eligible applicants for the Q2 2026 Pre-registration Training and Examination that the commencement date has been postponed to Monday, June 15, 2026.
“Registration on the designated portal has also been extended to Friday, June 12, 2026. All other conditions contained in the circular remain unchanged.
“The commission regrets any inconvenience this postponement may cause and appreciates the understanding of all applicants,” the disclosure noted.
By Aduragbemi Omiyale
One of the leading healthcare firms in Nigeria, Fidson Healthcare Plc, has listed additional shares on the Nigerian Exchange (NGX) Limited.
The new stocks absorbed into the stock market were 600 million units, raising the total issued and fully paid-up shares of Fidson to 3,000,000,000 ordinary shares of 50 Kobo each from 2,400,000,000 ordinary shares of 50 Kobo each.
The fresh equities came from the company’s rights issue of 600,000,000 ordinary shares of 50 Kobo each at N35.00 per share.
They were issued to existing investors on the basis of one new ordinary share for every existing four ordinary shares held as of the close of business on Wednesday, November 12, 2025.
Confirming the development, the regulator in a notice said, “Trading licence holders are hereby notified that an additional 600,000,000 ordinary shares of 50 Kobo each of Fidson Healthcare Plc were on Tuesday, June 2, 2026, listed on the daily official list of Nigerian Exchange Limited.
“The additional shares arose from the company’s rights issue of 600,000,000 ordinary shares of 50 Kobo each at N35.00 per share on the basis of one new ordinary share for every existing four ordinary shares held as at the close of business on Wednesday, November 12, 2025.
“With the listing of the additional 600,000,000 ordinary shares, the total issued and fully paid-up shares of Fidson Healthcare Plc have now increased from 2,400,000,000 to 3,000,000,000 ordinary shares of 50 Kobo each.”
By Modupe Gbadeyanka
This news will surely excite local contractors with verified claims of N100 million or less, as the federal government has approved their payments.
This approval for the disbursement was given by the Minister of Finance and Coordinating Minister of the Economy, Mr Taiwo Oyedele.
This followed a verification and reconciliation exercise designed to ensure only validated claims qualify for payment.
The beneficiaries cover contractors across multiple ministries, departments and agencies. The release of the funds is expected to enable contractors to return to project sites, pay workers, settle suppliers and meet outstanding financial commitments.
In an announcement on Monday, the Federal Ministry of Finance also said this latest batch of payments would ease liquidity pressure on small businesses and accelerate economic activity nationwide.
It was noted that the payments for verified claims of N100 million below were strategically done to spread economic impact broadly rather than concentrate disbursements among a handful of large firms.
The payments form part of a broader push to clear inherited contractor obligations, with over N700 billion verified in recent months.
“For many beneficiaries, the release of funds represents more than a financial transaction. It provides the certainty needed to sustain operations, preserve jobs, complete ongoing projects, and contribute to economic recovery and growth,” the ministry said in a statement.
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