Akintunde Oyedokun
Research Analyst
Oil prices rose for a third session on Tuesday as fading peace talks and Strait of Hormuz disruptions raised supply concerns.
Brent climbed 0.22% to $91.07 a barrel, while WTI gained 0.58% to $84.99, with both hitting their highest levels since late July.
BoE Expected to Hold Rates at 3.75% Through 2026
The Bank of England is expected to keep its interest rate at 3.75% through 2026, despite inflation rising to a forecast 2.9% in July.
A Reuters poll showed 56 of 64 economists expect no rate change this year, citing weak hiring and moderate wage growth.
Canadian Home Sales Extend Recovery
Canadian home sales rose 0.5% in July, marking a fourth straight monthly increase, while prices edged up 0.1%, their first monthly gain since November 2024.
However, annual sales fell 5.3% and prices declined 3.3%. New listings also dropped 1.6%, suggesting the housing market is gradually moving toward balance.
Mali Gold Output Jumps 30%
Mali’s industrial gold production rose nearly 30% year-on-year to 23.5 tonnes in H1 2026, beating the government’s 21.2-tonne forecast.
B2Gold’s Fekola led output with 8.85 tonnes, while Barrick’s Loulo produced 6.9 tonnes. Mali is now on track to meet or exceed its 43.2-tonne full-year target.
Nigeria’s Committee Shares ₦3.007tn July Revenue
Nigeria’s Federation Account Allocation Committee (FAAC) shared a total of ₦3.007 trillion revenue which accrued in July among the Federal Government, states and local councils.
Gross statutory revenue rose 17.8% to ₦4.359 trillion from ₦3.700 trillion in June, supported by stronger oil and non-oil collections.
The Federal Government received ₦1.146 trillion, states ₦943.352 billion and local governments ₦673.649 billion, while ₦243.478 billion went to benefiting states as derivation revenue.
