=Akintunde Oyedokun
Research Analyst
Oil prices closed marginally higher on Friday after fluctuating on reports of possible U.S. airstrikes on Venezuela, which were later denied by President Trump. Brent settled at $65.07, and WTI at $60.98 per barrel.
Market sentiment was mixed as geopolitical concerns, a strong U.S. dollar, weak Chinese factory data, and rising OPEC output pressured prices. For October, Brent fell 2.6% and WTI 2%, though analysts expect both benchmarks to average slightly higher in 2025.
France’s Inflation Slows Further in October
France’s inflation eased to 0.9% in October from 1.1% in September, as energy prices dropped sharply and food price growth slowed, according to INSEE data. On a monthly basis, prices rose 0.1% after a 1.0% decline in September. The country’s inflation has stayed below the European Central Bank’s 2% target for over a year, with the ECB set to review its policy stance in December.
Thailand Records September Recovery but Q3 Growth Falters
Thailand’s economy strengthened in September on the back of rising exports, manufacturing gains, and increased tourism receipts. Exports jumped 19.2% year-on-year, resulting in a $3.6 billion trade surplus.
Despite the monthly rebound, overall third-quarter performance weakened due to slower domestic demand and temporary factory shutdowns. The Bank of Thailand maintained its policy rate at 1.50% and expects modest growth of 2.2% this year and 1.6% next year, while the government raised its 2025 growth forecast to 2.4%.
Angola Aims for Record Diamond Output Despite Falling Export Values
Angola produced 10.7 million carats of diamonds in the first nine months of 2025 and targets 14.8 million by year-end, driven by stable mining operations. However, export values dropped 14% due to weaker global prices, competition from synthetic diamonds, and slower demand. The country, now partnered with Oman’s Taadeen Investment after replacing Russia’s Alrosa, is also bidding for a majority stake in De Beers, setting up possible competition with Botswana.
Nigeria Seeks $1 Billion World Bank Loan for Jobs and Growth
Nigeria is negotiating a $1 billion World Bank loan to boost private investment, create jobs, and diversify the economy. The funding, split equally between IDA credit and IBRD loan, targets reforms to expand credit access, strengthen digital finance, lower costs, and improve agriculture. The program aims to drive private-sector-led growth, reduce inflation, and enhance food security, complementing other World Bank initiatives. As of June 2025, the World Bank remains Nigeria’s largest external creditor.
