Economy
Oil Market Mixed as Middle Eastern Supply Concerns Ease
By Adedapo Adesanya
The oil market was mixed on Monday as concerns eased that fighting in the Middle East would disrupt supply and Chinese data suggested weak demand.
At the trading session, Brent crude traded at $82.21 a barrel after gaining 13 cents, and US West Texas Intermediate (WTI) crude slipped by 8 cents to $77.93 a barrel.
Both benchmarks ended last week lower after bearish Chinese data implied weaker demand in the world’s leading crude importer.
China’s crude oil imports rose in the first two months of the year compared with the same period in 2023 but were weaker than the preceding months, data showed last Thursday, continuing a trend of reduced purchases.
Meanwhile, oil investors seemed to overlook the geopolitical conflict that was initially seen as tightening global crude supplies. However, the Middle East conflict has not led to meaningful supply disruptions.
Yemen’s Iran-aligned Houthis have been attacking ships in the Red Sea and Gulf of Aden since November in retaliation for Israel’s war against Hamas, which started in October 2023.
According to the US military, over the weekend, dozens of drones were downed by US, French, and British forces in the Red Sea area after Houthis targeted ships in the region.
On Monday, an explosion in the vicinity of a vessel 71 nautical miles southwest of Yemen’s port of Saleef was reported.
Separately, the United Kingdom Maritime Trade Operations (UKMTO) agency said it had received a report of the sound of an explosion in the vicinity of a vessel 71 nautical miles southwest of Yemen’s port of Saleef. The vessel and crew were safe, UKMTO added.
The oil market will be anticipating the inflation data, which is due on Tuesday. The reading will be instrumental in understanding if interest rate cuts are to be expected.
Meanwhile, job growth accelerated in February in the world’s largest economy, but a rise in the unemployment rate and an ease in wage gains kept the anticipated June interest rate cut on the table.
Also, an increase in refining activity in the world’s largest oil producer, which could tighten global crude supplies, has helped to limit any fall in oil prices.
The US produced more crude oil than any other country in 2023, for the sixth year in a row, with production averaging 12.9 million barrels per day, up from 12.3 million barrels per day in 2019, which set a global record at the time, according to the Energy Information Administration (EIA).
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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