Akintunde Oyedokun
Research Analyst
Oil prices fell sharply on Monday, with Brent crude dropping $5.53, or 7.2%, to $71.48 per barrel, after Iran launched a missile strike on a U.S. base in Qatar without disrupting oil shipments through the Strait of Hormuz. The U.S. confirmed there were no casualties. Earlier gains driven by supply concerns reversed as fears of oil flow disruption eased. Both Brent and WTI posted their biggest one-day drops since 2022 and continued falling in after-hours trading.
Thailand Central Bank Expected To Hold Rates Despite Weak Growth, Falling Prices
The Bank of Thailand is likely to keep its interest rate steady at 1.75% on June 25, as policymakers weigh trade uncertainty and political unrest, a Reuters poll shows.
Although inflation is falling and growth has slowed to 3.1%, most economists believe the central bank will pause after February and April cuts, aiming to preserve policy tools.
Analysts expect a possible rate cut by September, but ongoing U.S. tariff threats and political instability are keeping the BOT cautious for now.
Germany’s Business Activity Rebounds In June As Manufacturing Orders Surge
Germany’s economy returned to growth in June, driven by a sharp rise in manufacturing orders—the strongest in over three years. The HCOB flash composite PMI rose to 50.4 from 48.5 in May, surpassing expectations. While services remained in contraction, they showed marked improvement. The data boosts hopes of economic recovery after two years of contraction.
South Africa Taps $1.5bn World Bank Loan To Fix Power, Transport Woes
South Africa has secured a $1.5 billion World Bank loan to address its ongoing energy and transport infrastructure challenges. The funding aims to improve power supply and ease logistics bottlenecks that have hindered growth for over a decade. The loan carries favorable terms, including a three-year grace period, and is part of broader government plans to stimulate the economy and reduce rising debt costs.
Nigeria’s Q1 Revenue Hits N6.9tr, Up 32.7% Amid Fiscal Reforms, Transparency
Nigeria’s revenue rose to N6.9 trillion in Q1 2025, a 32.7% increase from N5.2 trillion in Q1 2024, driven by improved transparency and fiscal reforms, according to Finance Minister Wale Edun. Speaking in Abuja, he highlighted stronger revenue collection, reduced debt service-to-revenue ratio (down from 150% to 60%), and renewed investor confidence marked by Shell’s $5.5 billion investment. Edun also noted steady GDP growth and reaffirmed the government’s target of 7% annual growth to outpace population growth and reduce poverty.
