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VI
Oil Price Slumps Below $80 on Hopes of De-escalation of US-Iran Conflict
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THISDAYLIVE
It came as the Dangote Petroleum Refinery has reduced the ex-depot price of its petrol to N1,165 per litre, down from N1,215 per litre, representing a cut of N50 per litre.
The latest oil price decline followed a sharp 5 per cent drop on Tuesday, which pushed Brent below $80 for the first time since July 13, as traders reacted to reports suggesting diplomatic efforts were underway to end hostilities between Washington and Tehran.
The meeting focused on expanding investment opportunities in Canada and exploring how the Dangote Group, alongside other African investors, can contribute to Canada’s economic growth.
Meanwhile, the Dangote Petroleum Refinery has reduced the ex-depot price of its petrol to N1,165 per litre, down from N1,215 per litre, representing a reduction of N50 per litre.
As Africa’s largest refinery, Dangote Petroleum Refinery said it continues to play a pivotal role in strengthening Nigeria’s energy security, reducing reliance on imports, and supporting the nation’s economic development through the supply of world-class petroleum products.