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Oil rises as US, Iran trade strikes, Israel moves further into Lebanon

Oil prices rose more than ​3% on Monday after Iran and the U.S. traded strikes and Israel ordered troops to move further into Lebanon in ‌its battle with Tehran-backed Hezbollah. U.S. crude futures rose $2.88 or 3.3% to $90.24 a barrel as of 0701 GMT. Brent futures rose $2.78 or 3.05% to $93.9 a barrel. The fighting, after Washington hosted Israel-Lebanon peace talks on Friday, dimmed hopes that the U.S. and Iran could soon announce an extension to their ​ceasefire, which had driven Brent and WTI to settle down 1.8% and 1.7%, respectively, on Friday…………….REUTERS.COM

Wall Street hits new closing highs on tech strength, Middle East deal hopes

Wall Street’s main indexes hit record closing highs on Friday and ​posted weekly and monthly gains as Dell results drove tech shares higher, while investors awaited details on a potential U.S.-Iran deal. President Donald Trump ‌said in a social media post that he would make a final decision on the Iran deal on Friday. Tehran earlier said it was looking for action, not words, when it came to an agreement………….REUTERS.COM

Nigeria’s GDP grows by 3.89% in Q1 2026 as agriculture, services drive expansion

Nigeria’s economy recorded a real Gross Domestic Product (GDP) growth of 3.89% year-on-year in the first quarter of 2026, reflecting an improvement from the 3.13% growth recorded in the corresponding period of 2025. This is according to fresh GDP data released by the National Bureau of Statistics (NBS). The latest figures indicate continued expansion across major sectors of the economy, supported by stronger agricultural activity, steady industrial output and sustained growth in the services sector…………..NAIRAMETRICS.COM

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OPEC+ set for another oil output quota hike despite Hormuz closure

OPEC+ has agreed in principle to ‌raise oil output targets in June, two sources familiar with the group’s thinking said on Saturday, but the increase will remain largely on paper as long as the U.S.-Iran war continues to disrupt Gulf oil supplies. Seven OPEC+ countries have an agreement in principle to raise ​oil output targets by about 188,000 barrels per day in June, the third consecutive monthly increase, pressing ​on with plans despite the war and the departure of the United Arab Emirates from ⁠the group this week, the sources said ahead of a policy meeting on Sunday……….REUTERS.COM

Wall St Week Ahead US stocks rally could find fuel in earnings, jobs data amid surging oil prices

Investors will look for another batch of earnings reports and fresh employment data to drive resilient U.S. stocks rally higher next week, in the face of spiking oil prices and ​a more hawkish Federal Reserve. Major U.S. stock indexes ended the week at record-high levels, following a sharp month-long rebound from concerns about economic fallout from the ‌Middle East war. A stellar season for corporate profits is underpinning bullishness for U.S. equities and countering other market headwinds…………REUTERS.COM

Nigeria records surge in foreign currency tax receipts to N6.33 trillion

Nigeria’s tax receipts from foreign currency-denominated payments rose to N6.33 trillion in 2025, highlighting the growing role of dollar-linked transactions in the country’s revenue profile, according to data from the National Bureau of Statistics (NBS) The figure represents a 27.3% increase from N4.97 trillion recorded in 2024, driven largely by higher corporate income tax (CIT) payments in foreign currency and increased value-added tax (VAT) collections tied to offshore and import-related activities. An analysis of the data shows that foreign currency tax receipts accounted for a significant share of total tax collections in the period under review…………NAIRAMETRICS.COM

Below is the summary of our recommendations for the week. For detailed review, kindly click the link to see our recommendations for 04052026.