Akintunde Oyedokun
Research Analyst
Oil prices rose nearly 2% on Monday as uncertainty over the reopening of the Strait of Hormuz renewed supply concerns.
Brent climbed 1.7% to $84.95 a barrel, while WTI rose 1.7% to $79.51. Iran’s conditions for reopening the key oil route heightened fears of further disruptions.
A breakthrough could ease prices, while renewed tensions may push them higher.
Ukraine Eases Currency Restrictions
Ukraine’s central bank has relaxed currency controls to boost business and investor confidence.
The monthly limit for foreign currency and securities purchases was quadrupled to 200,000 hryvnias, while daily cash withdrawal limits were doubled.
The bank said the changes would not threaten financial stability.
Malaysia Industrial Output Rises 6.5% in June
Malaysia’s industrial production rose 6.5% year-on-year in June, missing the 7% growth forecast by economists. The increase followed a revised 8.5% expansion in May, slightly above the initial 8.4% reading. Malaysia’s factory output growth remained solid, although the June figure came in below expectations.
Egypt’s Core Inflation Rises to 14.7% in July
Egypt’s core inflation accelerated to 14.7% year-on-year in July, up from 14.3% in June, according to data released by the Central Bank of Egypt on Monday. The increase points to continued underlying price pressures in the economy despite recent efforts to contain inflation.
Nigeria’s Domestic Debt Service Rises to N3.14tn
Nigeria’s domestic debt service rose 20.3% to N3.14 trillion in Q1 2026, driven by a 25.4% increase in interest payments to N2.97 trillion, DMO data showed.
Economists warned that rising borrowing costs could pressure government finances and limit credit to the private sector.
