Akintunde Oyedokun
Research Analyst
Oil prices fell nearly 4% on Thursday, with Brent crude slipping below $100 per barrel as hopes of a temporary U.S.-Iran peace deal eased supply concerns.
Brent crude declined to $97.34 per barrel, while U.S. WTI dropped to $91.13 after both benchmarks lost over 7% in the previous session.
The market reacted to reports that Washington and Tehran were nearing a temporary agreement that could reopen the Strait of Hormuz and reduce geopolitical tensions.
German Factory Orders Jump Despite War Fears, But Outlook Remains Fragile
German industrial orders rose 5.0% in March, beating expectations as firms rushed to secure supplies amid the Iran conflict. Excluding large contracts, growth still stood at 5.1%, the strongest since 2023.
Despite the gain, business confidence remains at a multi-year low, while manufacturing sentiment has turned negative.
Quarterly orders fell 4.1% overall, though they rose 1.6% excluding large deals. Foreign demand increased 5.6%, while domestic orders climbed 4.0%.
Mexico Inflation Eases In April, Paving Way For Possible Rate Cut
Mexico’s inflation slowed in April to 4.45% from 4.59%, boosting expectations of a possible final rate cut by the central bank.
Core inflation also eased to 4.26%, both readings slightly below forecasts.
The slowdown, alongside a 0.8% Q1 economic contraction, supports expectations of a 25-basis-point cut to 6.75%.
Inflation remains above the 3% target as growth stays weak at about 1.4% for the year.
Egypt Inflation Eases To 14.9% In April
Egypt’s urban inflation fell to 14.9% in April from 15.2% in March, according to CAPMAS data.
Prices rose 1.1% month-on-month, while food prices dropped 0.7% but were still up 6.7% year-on-year.
The figure came in below expectations of 15.9%, as inflation has eased sharply from 38% in September 2023, supported by IMF reforms.
However, price pressures may rise again in May after higher gas tariffs for energy-intensive industries.
Food Prices Drop For Beans, Eggs, Garri In March 2026 — Nigeria’s Statistics Bureau
Nigeria recorded a year-on-year drop in key food prices in March 2026, according to NBS data.
Eggs fell 20.12%, beans dropped nearly 50%, garri declined 41.19%, and onions eased 19.63%. Ginger, however, rose 20.46% due to supply issues.
Prices still rose slightly month-on-month amid transport and energy costs.
Regional prices varied, with the South-East generally more expensive.
Inflation stood at 15.38%, while food imports hit N7.65 trillion in 2025.
