Nigeria to earn more as crude oil price soars to $55.61Nigeria to earn more as crude oil price soars to $55.61

Nigeria to earn more as crude oil price soars to $55.61

Nigeria to earn more as crude oil There are pointers that Nigeria will earn more from crude oil from January, 2017, as price of oil has risen to $55.

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Nigeria to earn more as crude oil

There are pointers that Nigeria will earn more from crude oil from January, 2017, as price of oil has risen to $55.61 per barrel.

Nigerian Government Budget Basis

The Federal Government budget for 2017 was based on $42 per barrel before the recent crude oil price increase

United States crude futures went up $0.32 at $53.62 dollars per barrel, while benchmark Brent crude futures added $0.26 to $55.61.

This is came after the dollar yield growth where the U.S. dollar recorded a 14-year peak as global yield spreads moved favourably, while a falling yen lifted Japanese shares to a one-year top.

The Nikkei added 0.3% in thin trade, while Australia’s main index climbed 0.6% to its highest in 17 months after Wall Street racked up more records.

The Dollar Index

The dollar index, which evaluates it against several currencies, was at 103.10 having reached 103.65, its highest in 14 years. The euro was a fraction firmer at $1.0413.

On Wall Street, the Dow ended just 25 points shy of the exquisite 20,000 barrier due to a 1.68% gain in Goldman Sachs. Stocks were said to have been on a tear since the November 8 presidential election, with the Dow up 9%.

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