RateCaptain
  • Home
    • About Us
    • Contact Us
  • FX Rates
  • Money Market
  • Cryptocurrency
  • Commodities
  • Corporates
No Result
View All Result
Subscribe
  • Home
    • About Us
    • Contact Us
  • FX Rates
  • Money Market
  • Cryptocurrency
  • Commodities
  • Corporates
No Result
View All Result
RateCaptain
No Result
View All Result
Home Commodities

Oil Price Drops As Other Commodities Slump In Trade

Rate Captain by Rate Captain
October 20, 2021
in Commodities, Economics, News
Reading Time: 1 min read
A A
0
Share on FacebookShare on TwitterShare on WhatsappShare on Telegram

Oil price declined on Wednesday the 20th of October 2021,  Brent crude futures dropped by 0.8% to $84.44 a barrel at 06:45 GMT.

The fall in the price of oil may be attributed to the drop in price of other commodities such as Chinese coal.

As coal prices continues to rise China has implemented strategies to curb the price of coal by ensuring constant supply through the consistent operations of coal mining activities and power supply.

Market analysts predicts that oil price may drop even further as most commodities price ease. The Chinese government have also made efforts through its reform commission to bring coal price back to equilibrium and avoid market irregularities.

The gas and coal price surge has consistently switched demand to fuel oil and diesel for consumers.  Further more, data from the American Petroleum Institute Industry group rallied pressure on the oil market in turn causing an over 3 million per week increase the United States of America crude oil stock.

 

AlsoRead

IMF Refuses to Endorse External or Domestic Borrowing for Nigeria.

Gold Soars to New Heights as Dollar Weakens Amid US Shutdown Fears

Nigeria’s Inflation Eases to 20.12% in August, Prompting Calls for CBN Rate Cuts

Previous Post

Private and Public Sector Important For Clean Water Project – FG

Next Post

Bitcoin Flutters Around Record High, Trades At $63,998

Related News

IMF Applauds Tinubu Policy Reforms While Lowering Growth Projections

IMF Refuses to Endorse External or Domestic Borrowing for Nigeria.

by Victoria Attah
April 17, 2026
0

The International Monetary Fund (IMF) has declined to recommend whether Nigeria should prioritise external or domestic borrowing, insisting instead that...

Gold Prices Hit $2,000 Mark as Markets Assess Federal Reserve Rate Outlook

Gold Soars to New Heights as Dollar Weakens Amid US Shutdown Fears

by Victoria Attah
September 30, 2025
0

In a volatile session for global markets, gold prices climbed to a fresh all-time high, while the US dollar weakened...

Nigeria’s Inflation Eases to 20.12% in August, Prompting Calls for CBN Rate Cuts

by Stephen Akudike
September 16, 2025
0

Nigeria’s headline inflation rate dropped to 20.12% in August 2025, marking its fifth consecutive month of decline from 21.88% in...

Otedola acquires 5.52% of Transcorp Plc.

How I Lost N200 Billion”: Femi Otedola Reflects on His Biggest Financial Setback

by Rate Captain
August 22, 2025
0

In a rare moment of vulnerability, billionaire businessman Femi Otedola has shared the story of how he lost nearly N200...

Next Post

Bitcoin Flutters Around Record High, Trades At $63,998

Leave a Reply Cancel reply

Your email address will not be published. Required fields are marked *

Recommended

Nigerian Breweries Reports Record N145 Billion Naira Loss in 2023

Nigerian Breweries Attributes 135% Share Price Surge to Successful Recovery Strategy

April 17, 2026
Nigeria Rules Out IMF Loans Despite Rising Debt Concerns – Wale Edun

Nigeria Rules Out IMF Loans Despite Rising Debt Concerns – Wale Edun

April 17, 2026

Popular Story

  • External debt servicing gulps $357.26m in three months

    0 shares
    Share 0 Tweet 0
  • FG Introduces Green Tax on High-Engine Vehicles from July 1 to Promote Cleaner Transport

    0 shares
    Share 0 Tweet 0
  • U.S.-China Trade Relationship Significantly Imbalanced, Tai Says

    0 shares
    Share 0 Tweet 0
  • Nigerian Breweries Attributes 135% Share Price Surge to Successful Recovery Strategy

    0 shares
    Share 0 Tweet 0
  • Dufil Prima announces N30 billion Series 3 & 4 Commercial Paper

    0 shares
    Share 0 Tweet 0

RateCaptain

We bring you the most accurate in new and market data. Check our landing page for details.

  • Home
  • About Us
  • Privacy Policy
  • Terms & Conditions
  • Disclaimer
  • Cookie Policy
  • Contact Us

Copyright © 2022 RateCaptain - All rights reserved by RateCaptain.

No Result
View All Result
  • Home
    • About Us
    • Contact Us
  • FX Rates
  • Money Market
  • Cryptocurrency
  • Commodities
  • Corporates

Copyright © 2022 RateCaptain - All rights reserved by RateCaptain.

RateCaptain
Manage Cookie Consent
To provide the best experiences, we use technologies like cookies to store and/or access device information. Consenting to these technologies will allow us to process data such as browsing behavior or unique IDs on this site. Not consenting or withdrawing consent, may adversely affect certain features and functions.
Functional Always active
The technical storage or access is strictly necessary for the legitimate purpose of enabling the use of a specific service explicitly requested by the subscriber or user, or for the sole purpose of carrying out the transmission of a communication over an electronic communications network.
Preferences
The technical storage or access is necessary for the legitimate purpose of storing preferences that are not requested by the subscriber or user.
Statistics
The technical storage or access that is used exclusively for statistical purposes. The technical storage or access that is used exclusively for anonymous statistical purposes. Without a subpoena, voluntary compliance on the part of your Internet Service Provider, or additional records from a third party, information stored or retrieved for this purpose alone cannot usually be used to identify you.
Marketing
The technical storage or access is required to create user profiles to send advertising, or to track the user on a website or across several websites for similar marketing purposes.
  • Manage options
  • Manage services
  • Manage {vendor_count} vendors
  • Read more about these purposes
View preferences
  • {title}
  • {title}
  • {title}
?>