Akintunde Oyedokun
Research Analyst
Oil prices fell on Monday as investors took profits and awaited fresh U.S. sanctions on Iran. Brent dropped 1.1% to $93.38, while WTI fell 1.6% to $85.64.
Concerns over disruptions through the Strait of Hormuz continue to support prices, with Brent still above its June low of $71.
Mexico’s Economy Rebounds In Q2
Mexico’s economy grew 1.4% in Q2, recovering from a 0.3% contraction in Q1 and marking its strongest growth since early 2022. Annual growth reached 2.1%, while inflation rose to 3.26% in early August, keeping pressure on the central bank. June activity, however, fell 0.1% from the previous month.
Singapore Inflation Slows To 2% In July
Singapore’s core inflation rose 2.0% in July, below the 2.2% forecast, while headline inflation stood at 2.2%. The central bank expects inflation to remain elevated into 2027 after tightening policy in July amid persistent price pressures and higher energy costs. The government has also raised its 2026 growth forecast to 4.5%-5.5%.
Tunisia’s Cash Holdings Hit Record $10.5bn
Tunisia’s cash in circulation rose 16% year-on-year to a record 30.04 billion dinars ($10.5bn) by August 21, central bank data showed.
The increase has been driven partly by tighter cheque rules and continued reliance on cash, putting pressure on bank liquidity and lending.
Nigeria’s Petrol Imports Rise As Local Supply Drops
Nigeria’s petrol imports increased 9% to 19.7 million litres per day in July as domestic supply fell 21% to 25.8 million litres.
Total petrol receipts dropped 10% to 45.5 million litres daily, while crude deliveries to local refineries declined 8% to 585,000 barrels per day.
The data highlights Nigeria’s continued reliance on imports despite growing domestic refining capacity, including the Dangote refinery.
