Akintunde Oyedokun
Research Analyst
Oil prices gained more than 3% on Friday as renewed tensions between the U.S. and Iran heightened concerns over disruptions in the Strait of Hormuz.
Brent crude rose 3.06% to $108.96 per barrel, while WTI climbed 4.08% to $105.03. The rally followed fresh remarks from President Donald Trump and Iran’s Foreign Minister Abbas Araqchi, which reduced hopes of a quick resolution to the crisis.
Japan Wholesale Inflation Hits Three-Year High, Fuels Rate Hike Expectations
Japan’s wholesale inflation rose 4.9% in April, the fastest pace in nearly three years, as higher oil and commodity prices linked to the Iran conflict increased pressure on the Bank of Japan to raise interest rates in June.
Import prices jumped 17.5%, while Japan’s 10-year bond yield climbed to a 29-year high of 2.665% amid concerns the BOJ is moving too slowly to curb inflation.
U.S. Factory Output Hits 14-Month High Despite Supply Chain Risks
U.S. factory production rose 0.6% in April, the strongest gain in 14 months, driven by autos and AI-related tech demand. Motor vehicles jumped 3.7%, while semiconductors and computer output also increased.
However, supply disruptions linked to the Iran conflict and higher oil prices are worsening delivery delays and inflation pressures. Industrial production rose 0.7%, while capacity use climbed to 76.1%.
Ghana, IMF Reach Final Review of $3bn Bailout Programme
Ghana and the IMF have concluded the final review of the $3bn support programme, awaiting board approval.
The country will transition to a non-financing reform plan focused on fiscal stability.
The IMF said the programme helped stabilise the economy, cut inflation, rebuild reserves, and strengthen the cedi after the 2022 crisis. Growth in 2025 improved, driven by strong gold exports, with better fiscal and investment outlook.
Nigeria Inflation Edges Up To 15.69% In April 2026 As Price Pressures Persist
Nigeria’s inflation rose slightly to 15.69% in April 2026 from 15.38% in March, according to NBS.
CPI increased to 138.3 points, while monthly inflation eased to 2.13% from 4.18%.
Food inflation stood at 16.06%, and core inflation at 15.86%.
Although prices are still rising, the slower monthly pace points to easing pressure.
