Economy
Crude Oil Prices Down on Uncertain Russia-Ukraine Peace Outcome
By Adedapo Adesanya
Crude oil prices declined by about 1 per cent on Tuesday as markets weighed faltering Russia-Ukraine peace hopes against fears of oversupply.
Brent crude futures lost 72 cents or 1.14 per cent to trade at $62.45 a barrel, while the US West Texas Intermediate (WTI) crude futures depreciated by 68 cents or 1.15 per cent to sell at $58.64 a barrel.
Investors turned their focus to the Russia-Ukraine peace talks as Russian President Vladimir Putin met with US President Donald Trump’s special envoy Steve Witkoff and son-in-law Jared Kushner in the Kremlin on Tuesday.
President Putin warned European powers that if they started a war with Russia, Moscow was ready to fight and threatened to sever Ukraine’s access to the sea in response to drone attacks on tankers of Russia’s “shadow fleet” in the Black Sea.
This comes as the Russian President is set to start a two-day visit to India starting on Thursday, pitching more sales of Russian oil, missile systems and fighter jets in a bid to restore energy and defense ties hit by US pressure on the South Asian nation.
Amid tense trade negotiations with the US, India earlier this year was singled out by US President Donald Trump as the main financier of the Russia’s oil revenues. At the time, India remained adamant that it would buy the cheapest oil available regardless if it comes from Russia or elsewhere.
However, the US sanctions on Rosneft and Lukoil upended all previous plans by Indian refiners, who hastened to withdraw from the spot market for Russian crude in December. All but two Indian refiners have skipped placing orders for Russian crude for December, apparently not willing to test how serious the US would be with potential secondary sanctions.
Concerns about oversupply, which put pressure on prices, have been balanced by attacks on Russian infrastructure over the weekend and tensions between the US and Venezuela.
On Monday, the Caspian Pipeline Consortium said it had resumed oil shipments from one mooring point at its Black Sea terminal following a major Ukrainian drone attack on Saturday.
The Organisation of the Petroleum Exporting Countries and allies (OPEC+) agreed to leave oil output levels unchanged for the first quarter of 2026 at its meetings on Sunday as the group slows its push to regain market share, amid fears of a looming supply glut.
American Petroleum Institute (API) reported that US crude stocks rose by 2.48 million barrels in the week ended November 28, while gasoline (petrol) inventories rose by 3.14 million barrels and distillate inventories rose by 2.88 million barrels from a week earlier. Official US government inventory data will be released later on Wednesday.
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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