Oil prices rose by more than one percent at settlement on Friday due to developments in the Middle East. Brent crude futures increased by $1.45, or 1.67 percent, to record $88.52 per barrel. Meanwhile, West Texas Intermediate crude futures rose by $1.15, or 1.42 percent, to record $82.40 per barrel. Weekly gains for Brent crude reached six percent, and for West Texas Intermediate crude, 5.4 percent.
Algeria - On Monday, the Minister of Transportation, Saïd Sayoud, held talks in Algiers with the Deputy Prime Minister and Minister of Industry of the Czech Republic, Karel Havlíček, discussing ways to enhance bilateral cooperation between the two countries in the fields of transportation, according to a statement from the ministry.
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The Nigerian Minister of State for Petroleum Resources in charge of gas, Ikebekpe Ikpo, highlighted today from Moscow the developmental and economic dimensions of the Trans-Saharan gas pipeline that connects Nigeria to Algeria via Niger, especially for the Sahel countries, noting that the project is a priority, as Nigeria will extend a pipeline from the south of the country to the north to realize this continental energy facility.
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