Oil settles up on renewed US-Iran hostilities and threat of Red Sea closure
Oil prices climbed more than 4% to their highest in more than a month on Friday after the U.S. and Iran stepped up attacks across the Gulf, with shipping threatened by a potential Red Sea closure on top of the restricted traffic through the Strait of Hormuz. Brent crude futures settled $3.87, or 4.59%, higher to $88.10 a barrel, while U.S. West Texas Intermediate futures rose $3.54, or 4.48%, at $82.49. Both were at their highest since mid-June……….REUTERS.COM
US consumer inflation moderates; upside risks remain amid renewed Middle East conflict
U.S. consumer inflation slowed more than expected in June as energy prices retreated, but the moderation was insufficient to convince financial markets to take an interest rate increase from the Federal Reserve this year off the table against the backdrop of renewed conflict in the Middle East. The report from the Labor Department on Tuesday, which also showed underlying inflation subsiding last month, gave officials at the U.S. central bank some breathing room when they meet later this month, economists said. They, however, cautioned that June’s Consumer Price Index data had been overtaken by the recent escalation in hostilities between the U.S. and Iran…………REUTERS.COM
Nigeria’s inflation eases to 15.91% in June despite rising food prices
Nigeria’s headline inflation rate edged lower to 15.91% in June 2026, compared to 15.93% recorded in May, according to the latest Consumer Price Index (CPI) report. The June inflation rate was significantly lower than the 25.29% recorded in June 2025, reflecting a continued moderation in headline price growth on a year-on-year basis…………..NAIRAMETRICS.COM
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