Akintunde Oyedokun
Research Analyst
Oil prices jumped nearly 7% on Wednesday as renewed Middle East strikes heightened fears of supply disruptions.
Brent rose 6.8% to $89.79 a barrel, while WTI gained 6.2% to $84.20. Prices were also supported by a 3.3 million-barrel fall in US crude inventories and expectations that OPEC+ could pause production increases from October.
Australia Inflation Eases, Rate Hike Odds Fall
Australia’s inflation slowed to 4.0% in June, while core inflation came in below forecasts. Markets now see just a 3% chance of a rate hike next month. The Australian dollar fell 0.3%, while bond yields declined.
Fuel prices dropped sharply, helping ease overall inflation. However, rising oil prices and persistent housing and services costs remain key risks.
Hong Kong’s Home Prices Rise for 13th Month
Hong Kong private home prices rose 0.3% in June, extending gains to a 13th month, but slowing sharply from 1.5% in May.
Prices climbed 7.9% in the first half of 2026 to their highest since September 2023, though demand may face pressure from weaker stocks and tighter Chinese investment curbs.
Ethiopian Airlines Revenue Hits $9.1bn
Ethiopian Airlines’ 2025/26 revenue rose 20% to $9.1 billion, with passenger numbers up 10% to 20.7 million and cargo volumes increasing 16% to 897,000 tonnes.
The airline added nine aircraft but did not disclose profit figures, citing disruptions from Middle East conflicts and the Ebola outbreak in the DRC.
Nigeria’s Autonomous FX Inflows Rise 25% to $70.5bn
Nigeria’s autonomous FX inflows rose 25.1% to $70.54bn in 2025 from $56.38bn, driven by stronger non-oil exports and capital inflows, the CBN said.
The inflows made up 64.2% of total FX receipts, while overall net FX inflows increased to $60.81bn from $58.16bn in 2024. The rise highlights the growing role of non-oil sectors in Nigeria’s external earnings.
