Global Economic Roundup

Oil Prices Hit Five-Month Low On Glut Warning, Trade Tensions

Research Analyst

Oil prices fell to their lowest in five months after the International Energy Agency warned of a major supply surplus in 2026 and trade tensions between the U.S. and China escalated. Brent crude settled at $62.39 a barrel, and U.S. WTI at $58.70.

China tightened export controls, the U.S. threatened new tariffs, and both countries imposed new port fees, raising concerns over weaker demand and market pressure.

India’s Wholesale Inflation Slows To 0.13% In September

India’s wholesale inflation eased to 0.13% in September from 0.52% in August, supported by falling food and fuel prices, official data revealed on Tuesday. Analysts had expected a 0.5% rise.

Food prices declined 1.99% year-on-year, with vegetable costs plunging 24.41%. Manufactured goods increased 2.33%, slightly lower than August’s 2.55% rise, while fuel and power prices dropped 2.58%, following a 3.17% fall in the previous month.

German Inflation Rises to 2.4% In September

Germany’s inflation rate edged up to 2.4% in September, the federal statistics office reported, confirming earlier estimates. The figure is slightly higher than the 2.1% recorded in August on an EU-harmonised basis.

The increase reflects lingering price pressures despite easing energy costs, keeping inflation above the European Central Bank’s 2% target. Economists expect a gradual slowdown in the coming months if energy prices remain stable.

Egypt Unveils $5.7 Billion Plan To Drill 480 Oil Wells

Egypt will invest $5.7 billion over the next five years to drill 480 exploratory oil wells in a bid to boost declining output. The government has signed new exploration deals with energy majors, including Eni and BP, targeting the Mediterranean region. About 101 wells are planned for 2026 across key oil-producing areas. The move underscores Egypt’s push to strengthen its energy sector and attract more foreign investment.

FG to Issue ₦4 Trillion Bond to Clear Power Sector Debt

The Federal Government will issue a ₦4 trillion bond to settle verified arrears owed to power generation companies and gas suppliers. Approved by President Tinubu, the move aims to ease liquidity challenges, improve power supply, and attract private investment. The initiative also targets metering gaps, tariff alignment, and regulatory trust restoration.

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