Akintunde Oyedokun
Research Analyst
Oil prices fell nearly 3% on Thursday as a ceasefire agreement between Israel and Lebanon raised hopes for renewed U.S.-Iran talks and eased concerns over supply disruptions in the Middle East.
Brent crude declined to $94.99 per barrel, while WTI fell to $92.83. Despite the drop, supply risks remain as shipping through the Strait of Hormuz is still constrained.
US Jobless Claims Rise, Labor Market Steady
U.S. jobless claims rose by 13,000 to 225,000 (vs. 213,000 expected), a four-month high. The four-week average rose to 214,750, still within this year’s 190,000–230,000 range.
Continuing claims fell 8,000 to 1.777 million, signaling steady labor conditions.
Q1 productivity was revised down to 0.3% annualized (from 0.8%), with annual growth at 2.8%.
Australia Records A$1.8bn Trade Surplus in April
Australia’s goods trade balance rebounded to a surplus of A$1.8 billion ($1.28 billion) in April, recovering from March’s A$1.0 billion deficit, the first since 2017.
Exports rose 7.2% on stronger iron ore and coal shipments, while imports edged up 0.8%, driven by a 41% jump in fuel imports. Imports of data-centre computing equipment, however, fell 42% after a March surge.
Kenya Business Activity Shrinks Further in May
Kenya’s private sector contracted for a third consecutive month in May, as the Stanbic Bank PMI fell to 46.6 from 49.4 in April, its lowest level since July 2024.
Weak demand, rising inflation, and fewer new orders weighed on activity, while inflation accelerated to 6.7%. Despite the slowdown, Kenya’s economy is forecast to grow 4.9% in 2026.
DBN Disburses N1tn to MSMEs Since 2017
The Development Bank of Nigeria (DBN) has disbursed over N1 trillion to MSMEs through 84 financial institutions since 2017.
DBN Managing Director, Tony Okpanachi, said the bank has facilitated more than one million loans, created over 1.6 million jobs, and issued N512 billion in guarantees to support MSMEs. In 2025 alone, it disbursed N358 billion and supported 289,000 loans.
