Akintunde Oyedokun
Research Analyst
Oil prices fell on Monday as hopes for diplomatic progress in the Iran conflict eased supply concerns.
Brent crude dropped 2.6% to $101.18 a barrel, while WTI fell 2.7% to $97.61. Rising Saudi shipments through the Strait of Hormuz also pressured prices, despite continued tensions in the Middle East.
UK Home Asking Prices Rise 0.7%
British home asking prices rose 0.7% in the four weeks to September 12, their first increase since May, Rightmove said.
However, prices remained 0.8% below last year, while homes for sale reached a 12-year high and buyer enquiries fell 9% year-on-year. The average two-year mortgage rate also rose to 5.29% from 5.09%.
Brazil Economists Cut 2026 Rate Forecast
Brazilian economists now expect the central bank to cut its benchmark Selic rate by another 25 basis points this year, taking it to 13.50% from their previous 13.75% forecast.
The latest Focus survey also raised the 2026 inflation forecast slightly to 4.92%, while the 2027 rate forecast remains at 12%.
Gabon Plans $2bn International Borrowing in 2027
Gabon plans to raise 1.14 trillion CFA francs ($2.01bn) from international markets in 2027 as it targets stronger economic growth and higher oil output.
The government forecasts 4.5% growth, with oil production rising to 11.3 million tonnes. However, debt servicing will increase to 667.3 billion CFA francs, while debt repayments are projected at 1.88 trillion CFA francs.
Nigeria’s Current Account Surplus Hits $7.54bn
Nigeria’s current account surplus rose 67.9% to $7.54 billion in Q2 2026, driven by stronger exports and higher remittances, CBN data showed.
The goods surplus increased to $10.12 billion as oil, gas and refined petroleum exports rose, while crude imports declined. Remittances also climbed 9.8% to $5.82 billion.
Nigeria recorded a $3.51 billion balance of payments surplus during the quarter
