[Update]* #Africa #Markets | 26 Dec

By Rafiq Raji, PhD
Twitter: @DrRafiqRaji

*Adds Liberian runoff election today

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 today
[Follow my Twitter handle @DrRafiqRaji & highlighted hashtags below for posts & comments]

  • Liberian presidential runoff election taking place today [George Weah, the winner in the first round, is expected to win] #Liberia #LiberiaDecides

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 

Full stories of above headlines are available on Reuters

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