Akintunde Oyedokun
Research Analyst
Oil prices climbed toward $100 a barrel as U.S.-Iran attacks on vessels through the Strait of Hormuz raised supply concerns. Brent rose 0.92% to $97.17, while WTI gained 0.79% to $92.27. Goldman Sachs warned crude could hit $120 if shipping disruptions worsen.
Colombia Inflation Hits 6.24% in August
Colombia’s annual inflation rose to 6.24% in August from 6.03% in July, while monthly inflation reached 0.39%, above analysts’ 0.26% forecast. Inflation remains well above the central bank’s 3% target, with food and communication costs among the main drivers.
Japan Real Wages Rise 2.4%, Strengthening BOJ Rate Hike Bets
Japan’s real wages rose 2.4% in July, the fastest growth since May 2021 and the seventh consecutive monthly increase.
Nominal wages jumped 4.7% to ¥436,401, while regular pay rose 4.1%, adding to expectations that the Bank of Japan could raise interest rates this month.
U.S. Copper Imports From Congo Hit Record
U.S. copper imports from Congo hit a record 53,290 tonnes in July, driven by demand for cheaper supplies. Congo accounted for 23.9% of total U.S. imports, up sharply from 2024 as production increased. China remained Congo’s biggest buyer despite a 4.3% drop in imports during the first seven months of 2026.
NNPC Revenue Hits ₦25.13tn in Seven Months
NNPC Ltd recorded ₦25.13tn revenue and ₦2.55tn profit after tax from January to July 2026, driven by stronger oil and gas production.
Its Federation Account payments reached ₦7.91tn, while oil and condensate output averaged above 1.6 million bpd.
