Akintunde Oyedokun
Research Analyst
Oil prices fell more than 4% on Thursday after U.S. President Donald Trump said violence in Iran was easing, reducing concerns over supply disruptions.
Brent crude dropped to $63.67 a barrel, while U.S. WTI slid to $59.28. The decline was reinforced by rising U.S. oil inventories and signs of increased Venezuelan output, despite steady demand signals from OPEC and strong Chinese crude imports.
Canadian Home Sales Fall in 2025, Recovery Expected
Canadian home sales declined last year, with December down 2.7% from November and 4.5% year-over-year. Total 2025 sales fell 1.9% to 470,314 units, as early-year economic uncertainty and U.S. tariffs slowed the market. CREA expects sales to rebound in spring 2026, forecasting a 5.1% rise in sales and a 2.8% increase in average prices to C$698,881. The Bank of Canada’s rate cuts aim to support the housing market, while newly listed properties fell for the fourth month in a row, and the sales-to-new listings ratio remained near its long-term average.
U.S. Jobless Claims Fall, Labor Market Steady
U.S. unemployment claims unexpectedly dropped last week to 198,000, below expectations, though unadjusted claims rose. Hiring remains sluggish, layoffs low, and businesses are cautious amid AI investments. The Fed noted employment was largely unchanged, with temporary workers filling gaps. In 2025, the economy added 584,000 jobs—the slowest in five years—while the unemployment rate fell slightly to 4.4%, though long-term unemployment remains a concern.
Ghana to End Mining Stability Deals, Raise Royalties
Ghana will scrap long-term mining stability and development agreements and increase gold royalties to 9–12% to capture more value from rising gold prices. Existing agreements, including Newmont’s, will not be renewed, while others will phase out by 2027. Reforms also introduce stricter local-content rules and support for domestic firms, aiming to prevent misuse of revenues and ensure greater benefits for the country.
Nigeria’s Inflation Falls to 15.15% in December 2025
Nigeria’s headline inflation eased to 15.15% in December 2025 from 17.33% in November, reflecting slower price increases after the National Bureau of Statistics rebased the Consumer Price Index (CPI). Month-on-month inflation moderated to 0.54%, driven by falling food prices, particularly staples like tomatoes, garri, eggs, grains, and vegetables. Core inflation also eased to 18.63%. Urban inflation stood at 14.85% and rural at 14.56%. At the state level, Abia recorded the highest inflation (19.03%) and Sokoto the lowest (8.61%). The NBS highlighted that the revision aligns with international standards and cautioned against direct interstate comparisons.
