Akintunde Oyedokun
Research Analyst
Oil prices dropped about 5% on Monday after U.S. President Donald Trump delayed a planned attack on Iran, boosting hopes of a deal that could ease supply concerns.
Brent fell 5% to $83.52 a barrel, while WTI declined 6.1% to $79.49. Iran denied Trump’s claim that talks were scheduled, while shipping disruptions continued across the Gulf. OPEC+ also approved a 188,000-barrel-per-day output increase from September.
Germany Manufacturing Growth Hits Four-Year High
Germany’s manufacturing sector expanded strongly in July, with the PMI rising to 52.2 from 50.3 in June, marking its best pace since May 2022.
Output and new orders increased, supported by a sharp rebound in exports. Cost pressures also eased, but Middle East tensions, volatile oil prices and weak business confidence continued to cloud the outlook.
Spain Manufacturing Sector Edges Back Into Growth
Spain’s manufacturing PMI rose to 50.2 in July from 49.7 in June, returning to marginal growth despite falling output and new orders. Middle East-related disruptions hit supply chains, while employment declined for an 11th straight month. Price pressures also eased
Mali Targets $883m Mining Revenue for Infrastructure
Mali plans to raise up to 500 billion CFA francs ($883.1 million) from mining revenues to fund energy, water and transport projects.
Finance Minister Alousseni Sanou said an infrastructure fund had raised 109.14 billion CFA francs between January 2025 and June 2026. The fund, financed by mining companies, could generate at least 50 billion CFA francs annually.
Proposed projects include roads, railways, boats and Mali Airlines initiatives.
Nigeria Manufacturing Growth Hits 3.3%
Nigeria’s manufacturing sector grew 3.3% year-on-year in Q1 2026, up from 1.7% a year earlier. Despite improved stability, high energy, FX and borrowing costs, weak infrastructure and consumer demand remain key challenges.
The sector contributed 9.6% to GDP and remains a major employer. Analysts expect gradual recovery but warn that inflation and global supply disruptions could slow growth.
