Akintunde Oyedokun
Research Analyst
Oil prices jumped nearly 5% on Thursday after the U.S. imposed sanctions on Russian producers Rosneft and Lukoil, fueling concerns of tighter global supply. Brent rose to $65.50 per barrel and WTI to $61.39, while Chinese refiners suspended purchases from the sanctioned firms. Prices later eased after OPEC signaled readiness to boost production if needed. The rally underscored how geopolitical tensions continue to drive volatility in global energy markets.
Bank of Korea Holds Rate, Signals Possible Cut as Won Falls
The Bank of Korea kept its key rate at 2.5% on Thursday, but hinted at another cut within three months. The dovish tone sent the won to a six-month low and lifted the Kospi to a record high. Policymakers remain cautious over housing risks and slowing growth, with the economy expected to post its weakest expansion since 2020 amid U.S. tariff pressures.
The move underscores the bank’s balancing act between supporting growth and safeguarding financial stability.
UK Manufacturers Report Weakest Orders Since 2020
British manufacturers are facing their steepest drop in orders since 2020, with the CBI’s October order book index plunging to -38 from -27 due to high energy costs and uncertainty over upcoming tax changes. Both domestic and export demand fell sharply, and firms are holding back on hiring and investment ahead of the November 26 budget. The CBI urged the government to address soaring energy costs to protect the sector’s competitiveness.
Uganda’s Coffee Production To Rise 14.8% In 2025/26
Uganda expects to produce 9.3 million 60-kg bags of coffee in the 2025/26 crop year, up from 8.1 million, driven by new plantings and maturing trees. Government support through free seedlings and fertiliser aims to boost output toward a 2030 target of 30 million bags. Coffee exports earned the country $2.2 billion in the year to August, a 57% increase from the previous period. The robusta variety remains the mainstay of Uganda’s coffee industry, underpinning its position as Africa’s top exporter.
Nigeria’s Releases N32.9 Billion To Boost Primary Healthcare
The Federal Government has disbursed N32.9 billion from the Basic Health Care Provision Fund (BHCPF) to primary healthcare facilities nationwide, marking the third funding round in 2025. The funds, already reaching local health centres, aim to improve essential services, infrastructure, safe deliveries, and access to medicines. Prof. Muhammed Ali Pate urged community participation to ensure transparency and effective use. The BHCPF, established under the 2014 National Health Act, targets improved healthcare access for all Nigerians, especially the poor and vulnerable.
