#Africa #Markets | 26 Dec

By Rafiq Raji, PhD
Twitter: @DrRafiqRaji

 Global Markets

  • [Most markets closed today for the holidays]

Oil markets

  • Oil near June 2015 high as production cuts tighten market
  • Prices supported by OPEC/Russia led production cuts
  • But expected end to Forties pipeline closure caps gains
  • US output approaching 10 mln bpd undermines cuts
  • Ineos starts testing UK’s Forties North sea oil pipeline after repairs

Precious metals

  • Gold hits over 3-week high in thin-volume trade
  • Spot gold was up 0.2 pct at $1,277.98 an ounce (0115GMT) on Tuesday, after hitting its highest since 1 Dec. at $1,278.14
  • US gold futures rose 0.3 pct to $1,282.20 an ounce

Key African events or data releases yesterday
[Posted & commented on some headlines below at my Twitter handle @DrRafiqRaji]

  • Zimbabwe’s farmers brace for return of destructive new pests
  • Nigeria army says it repels suspected Boko Haram militant attack
  • Attackers torch Democratic Republic of Congo president’s property 

N.B
Full stories of above headlines are available on Reuters

Leave a Reply

Fill in your details below or click an icon to log in:

WordPress.com Logo

You are commenting using your WordPress.com account. Log Out /  Change )

Google+ photo

You are commenting using your Google+ account. Log Out /  Change )

Twitter picture

You are commenting using your Twitter account. Log Out /  Change )

Facebook photo

You are commenting using your Facebook account. Log Out /  Change )

Connecting to %s

This site uses Akismet to reduce spam. Learn how your comment data is processed.