Oil prices rose by more than 6% at settlement, driven by increasing concerns over energy supply disruptions. Brent crude futures rose by $6.42, or 6.34%, to close at $107.63 per barrel. West Texas Intermediate crude futures increased by $6.43, or 6.69%, to $102.48 per barrel, surpassing the $100 mark for the first time since May. Both crude types recorded their highest levels since May 19 and achieved their largest daily gains in nearly two months.
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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