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Iran Blows Hot As Oil Price Increases

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Oil traded above 85 dollars a barrel on Wednesday, supported by expectations that U.S. sanctions on Iran will tighten supply and strain the ability of Saudi Arabia and other producers to pump more.

Crude exports from Iran, OPEC’s third-largest producer, are already falling as the U.S. sanctions kicking in on Nov. 4 deter buyers, NIGERIA NEWS reports.

The drop in exports is reducing the impact of an OPEC production increase agreed in June.

Brent crude, the global benchmark, was up 38 cents at 85.18 dollars a barrel .U.S. crude was up 24 cents at 75.47 dollars.

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With Iranian exports expected to fall further, analysts say there may not be enough spare production capacity in the short term to meet demand, potentially requiring large withdrawals from storage.

The Organisation of the Petroleum Exporting Countries, plus allies including Russia, have been limiting supply since 2017 to get rid of a glut.

They partially relaxed the cut in June, under pressure from U.S. President Donald Trump to cool prices.

OPEC has so far ruled out any further production increase, beyond delivering the boost agreed in June, in spite of prices rallying further and more pressure from Trump.

Russia’s Energy Minister, Alexander Novak, said on Wednesday the market had more or less stabilised but many uncertainties remain, including the sanctions on Iran and could push prices higher.

U.S. crude inventories rose by 907,000 barrels in the week to Sept. 28 to 400.9 million, the American Petroleum Institute said on Tuesday, ahead of Wednesday’s official supply report.

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Nigerian reacts to Islamization of Africa, boko haram and herdsmen revelation by Olusegun Obasanjo

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Chieftain of the People’s Democratic Party (PDP), Femi Fani-Kayode, has called on erstwhile President of Nigeria, Olusegun Obasanjo to divulge more on what he knows about Boko Haram, killer herdsmen and alleged plot to Islamise Nigeria.

The former Aviation Minister made this known in a statement he released to the press. He said the former president remains the only politically articulate in the Southern half of the country and that he understand better the imminent dangers that lurk around the corner for Nigeria.

NIGERIA NEWS report earlier the revelation made by Obasanjo on how BUhari is empowering Boko Haram and Killer herdsmen.

The statement read: “Obasanjo is deeply courageous and his latest contribution that there is an agenda to Fulanise West Africa and Islamise Africa says it all.

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“Obasanjo needs say no more. History and posterity will be kind to him for speaking the bitter truth and saying what almost every other southern and Middle Belt politician and leader knows to be true but is too timid and too scared to say publicly.

“With his latest contribution he has vindicated yours truly and many others. I saw this coming in late 2013 and I told the world. Nnamdi Kanu saw it coming in 2014 and he told the world. Asari Dokubo saw it in 2015 and he told the world.

“Afenifere, OPC, YOLICOM, PANDEM, MEND, the Middle Belt Forum, the Niger Delta Avengers, IPOB, MASSOB and Ohaeneze saw it in 2017 and they told the world. The Christian Elders Forum, CAN and the Church saw it in 2018 and they told the world.
“Sadly the world refused to listen, left us on our own and, instead of rising to the occasion and confronting the evil, Nigerians went on bended knee to the powers that be and acted as if they were not saddled with a major problem that was bound to eventually consommé them all. Now they know better even though most of them are still in denial.

“Now they must live with the consequences of their indifference, ignorance, cowardice and stoicism. What a pity.

“It is a tragedy of monumental proportions that a nation that is so blessed with extraordinary human and mineral resources should end up going this way.

Fani Kayode, did not spare former Jigawa governor, Sule Lamido, for attacking Obasanjo and defending President Muhammadu Buhari as he attacked him back.

“I hear one or two people like Sule Lamido are not too happy with what OBJ said and have called him out for saying it. That is sad and unfortunate because Obasanjo has done more for the core north, Lamido’s Fulani tribe and Nigerian unity than any other former President or Head of State in our history. He also fought in a civil war to keep the country together.

“For anybody from the core north to call him names for speaking the truth and baring his mind over what is unfolding in Nigeria today tells you how blinded by power, insensitive and callous some of these people are.

“It is only those that subscribe to the Fulanisation and Islamisation agenda that will criticise or oppose Obasanjo’s observation and describe him as “a bigot” for making them.

“What Obasanjo said was timely and necessary and millions are commending him for it. He spoke the truth, the whole truth and nothing but the truth.”

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VIDEO: AFCON Mascot pictures and full details

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AFCON 2019 Mascot

African Cup of Nations, AFCON 2019 organisers on Sunday shows the world the 2019 Mascot with video obtained by this online medium of Facebook

The video was posted on the official account of the football team of the continent a few hours ago as they unveil the 2019 AFCON Mascot in video on Youtube

The Organizing Committee of the 2019 African Cup of Nations has revealed the AFCON 2019 Mascot; The child “Tut” followed by the Pharaoh King Tutankhamun.

The competition for the AFCON 2019 is to start by June 21, about a month from today

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The competition will see 24 countries for the first time competing for the cup against

NIGERIA NEWS reports that Cameroon who was initially tipped to hold the competition lost it to Egypt as a result of lack of enough preparation when the supervision officers went for an inspection early January

Earlier, Eypyt and South Africa were considered for the competition but Mohammed Salah country won the bid

 

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