Akintunde Oyedokun
Research Analyst
Oil prices were flat on Monday, with Brent at $60.92 and WTI at $57.23. U.S.-Venezuela tensions have cut exports, tightening near-term supply, while potential Russia-Ukraine peace talks may return more Russian oil to the market.
Last week, crude fell over 4% on expectations of a global supply surplus. Traders are closely watching geopolitical developments and their impact on oil availability.
Canada’s inflation steady at 2.2% in November
Canada’s annual inflation held at 2.2% in November, driven by the fastest rise in food prices in over two years, while lower gasoline and shelter costs tempered overall growth. Core inflation fell below 3% for the first time since March. Food prices rose 4.2% annually, influenced by adverse weather and U.S. import tariffs. Gasoline costs were up slightly month-on-month but remained lower year-on-year. The Canadian dollar edged higher, and two-year government bond yields dipped following the data.
China Faces Slowing Growth Amid Weak Factory Output and Retail Sales
China’s economic growth is slowing as factory output hits a 15-month low and retail sales record their weakest pace since the end of strict COVID-19 curbs. Fading consumer subsidies and a prolonged property crisis are limiting spending, while reliance on exports faces global pushback. Economists warn that stimulus alone won’t resolve structural challenges, with the IMF urging reforms in the property sector, which could cost around 5% of GDP to stabilize.
South Africa Sees Sharp Drop in FDI Outflows in Q3
South Africa’s foreign investment outflows tumbled to 21 billion rand ($1.25 billion) in Q3 2025, down from 73.5 billion rand in Q2, the Reserve Bank reported. The decline followed Anglo American’s sale of its remaining Valterra Platinum shares.
The outflows were partially offset by foreign interest in the media sector, including Canal+ taking control of MultiChoice. Portfolio investment inflows also eased, falling to 40.7 billion rand from 69.4 billion rand.
Nigeria’s Inflation Slows to 14.45% in November on Falling Food Prices
Nigeria’s headline inflation eased to 14.45% year-on-year in November, down from 16.05% in October, marking the eighth straight month of slowdown, official figures show. Food inflation dropped to 11.08% from 13.12%, helping ease the cost-of-living pressure after years of soaring prices that once peaked near 35% last December. The central bank kept interest rates steady, signaling its focus on further reducing inflation.
