Akintunde Oyedokun
Research Analyst
Oil prices stayed near seven-month highs on Wednesday, with Brent at $71.09 per barrel and WTI at $65.86 per barrel, as tensions between the United States and Iran kept supply risks in focus. Fears of Middle East disruptions, U.S. military positioning, and remarks by Donald Trump supported prices. On supply outlook, OPEC+ may add 137,000 barrels per day from April, while Saudi Arabia is prepared to raise output if needed. U.S. crude inventories also rose by 11.43 million barrels.
Japan Services Prices Rise 2.6% Amid Wage-Driven Inflation
Japan’s services producer price index rose 2.6% year-on-year in January, unchanged from December, driven by higher construction and temporary staffing costs as tight labour conditions push wages and prices higher. The reading supports the stance of Bank of Japan, which ended its stimulus programme in 2024 and raised rates to 0.75% in December. Governor Kazuo Ueda said future policy will depend on wage growth and firms’ ability to pass rising labour costs to consumers.
U.S. Consumer Confidence Rebounds in February Despite Growing Job Market Worries
U.S. consumer confidence improved in February, with the Conference Board’s index rising 2.2 points to 91.2 after January’s reading was revised up to 89.0. Optimism was stronger among younger consumers and middle-income households, but inflation, prices, and cost of living remain major concerns.
Labour market worries persist as the share of people saying jobs are hard to get rose to 20.6%, the highest since 2021, suggesting possible upward pressure on unemployment, although the proportion saying jobs are plentiful also increased. Overall, sentiment is better but still below recent peak levels.
Zimbabwe Halts Raw Mineral, Lithium Exports Over Irregularities
Zimbabwe has suspended exports of all raw minerals and lithium concentrates, including cargo in transit, over alleged malpractice and leakages, pending a review of export processes to boost local value addition.
The country, which has expanded spodumene output with backing from Zhejiang Huayou Cobalt, Sinomine, Chengxin Lithium Group and Yahua, is pushing in-country processing, with Huayou investing $400 million and Sinomine planning a $500 million lithium sulphate plant at Bikita.
Medical Tourism Costs Nigeria $549m in Nine Months
Nigeria spent $549.29 million on medical treatment abroad between January and September 2025, an 18% rise from 2024, according to the Central Bank of Nigeria.
Experts blame poor hospital infrastructure, inadequate funding, and equipment shortages, despite reform promises by Health Minister Muhammad Pate.
The Nigerian Medical Association warns that continued medical tourism is draining foreign reserves and reflects deep challenges in the health sector.
