News Snapshot:
Global crude oil prices appeared stable on Tuesday morning as the market balanced risk sentiment with supply concerns and the prospect of higher demand as China relaxes its COVID curbs. Brent crude, against which Nigerian oil is priced, dipped 38 cents, or 0.3% to $119.13 barrel at 10.30 am Nigerian time. U.S. West Texas Intermediate (WTI) crude dipped 25 cents or 0.2% at $118.25 a barrel. “Risk sentiment is responsible for the drop, with European equity markets negative,” said UBS analyst Giovanni Staunovo. U.S. State department authorisation for Eni and Repsol to start shipping Venezuelan crude to Europe from July...
