Akintunde Oyedokun
Research Analyst
On Wednesday, oil prices rose for a fifth straight session as tensions around Iran raised concerns over potential supply disruptions. Brent gained 1.3% to $66.32 a barrel, while U.S. crude added 1.3% to $61.95.
Although unrest hasn’t affected Iran’s main oil regions, geopolitical fears continue to influence markets. Gains were capped by rising U.S. stockpiles and renewed Venezuelan exports, while investors await official U.S. inventory data for further direction.
China’s 2025 Trade Surplus Hits $1.2 Trillion
China’s trade surplus reached a record $1.189 trillion in 2025, fueled by exports to markets outside the U.S., including Southeast Asia, Africa, and Latin America. Strong manufacturing and global diversification helped offset weak domestic demand and U.S. trade pressures. December exports rose 6.6% year-on-year, exceeding expectations, but the growing surplus may heighten trade tensions with other countries.
India Wholesale Inflation Rises In December On Manufacturing Costs
India’s wholesale prices jumped 0.83% year-on-year in December, reversing November’s decline, driven by higher manufacturing costs in machinery, textiles, and food products. Food prices were flat, vegetable prices eased, manufactured goods rose, while fuel and power costs continued to fall. The increase exceeded economists’ expectations, signaling a pickup in underlying inflationary pressures.
Caledonia Mining To Develop Zimbabwe’s Largest Gold Mine
Caledonia Mining will spend $132 million in 2026 to develop the Bilboes gold mine, set to become Zimbabwe’s largest. Production is expected to start in late 2028, reaching 200,000 ounces annually by 2029. The project, costing $584 million in total, will be funded through a mix of debt, cash from existing operations, and specialized financing. The expansion follows Zimbabwe’s decision to scrap plans to double gold royalties and revise capital expenditure taxes, while soaring gold prices provide added momentum.
FG, ASUU Strike Deal To Raise University Salaries
The Federal Government and ASUU have agreed to a 40% salary increase for federal university staff, effective January 1, 2026, alongside restructured allowances for research and productivity. A new professorial credit allowance gives full professors N1.8 million and academic readers N840,000 annually. The deal ends years of disputes and strikes, including ASUU’s two-week strike in October 2025, and is already being implemented.
