Oil Price Alert! US WTI futures price is now trading at $0.01, the collapse is scary and unprecedented. As at 7.00 p.m today it was trading 47% down, it’s now trading 99.5% down in less than an hour, its last price before the crash was $18.44. Guess what? It eventually closed in the negative
UK’s Brent is 9% down at $25.62 while Nigeria’s Bonny Light is currently up by 4.5% at $22.32.
WTI traders have been managing serious storage and capacity issues. They are now battling to rid themselves of unwanted US crude. With the current trend, it may close in the negative zone today.
Stock Market Update:
The All-Share Index (ASI) suffered a marginal loss of 0.01% to halt the 7 consecutive days gaining streak of the equities market.
Market Capitalization of listed equities also depreciated by 0.01% to close at 11.94 trillion as against 11.95 trillion recorded at the close of trading on Friday.
FBNH First Quarter Results: Gross earnings up by 8.30%, Interest income down by 4.22% and profit for the period up by 62.74%. See highlights below and details of the financials here.
Market Breadth: The market recorded a total of 14 gainers as against 16 losers to close today’s trading session on a negative note. Linkage Assurance and Julius Berger top the gainers chart while Guinness and PZ top the losers chart. See the list of top gainers or losers below:
Market Turnover: NESTLE top the turnover table in value while GUARANTY led in volume. See top 10 traded stocks below:
It’s a wrap!