Akintunde Oyedokun
Research Analyst
Oil prices surged about 25% on Monday, with Brent and WTI reaching roughly $119.50 per barrel, driven by fears of Middle East supply disruptions.
The rally strengthened the U.S. dollar, pushed gold down 2%, and lifted edible oils and grains linked to biofuel production.
Iran also named Mojtaba Khamenei as successor to Supreme Leader Ali Khamenei, signaling continued hardline rule amid rising U.S.–Israel tensions.
China’s Consumer Inflation Hits 3-Year High As Producer Deflation Persists
China’s consumer prices rose 1.3% year-on-year in February, the fastest in over three years, driven by Lunar New Year spending. Flight tickets jumped 29.1% and gold jewellery 76.6%, while core CPI rose 1.8%.
Producer prices fell 0.9%, the smallest drop since July 2024. Analysts say the inflation spike may be temporary amid weak demand and global energy shocks.
The economy still faces property market slumps and trade uncertainties, keeping policymakers focused on stabilising prices and boosting consumption.
Taiwan’s Export Growth Slows in February
Taiwan’s exports rose 20.6% year-on-year to $49.8 billion in February, slowing from January’s 69.9% surge. Strong demand for AI and cloud products, led by companies like TSMC, supported shipments, but the Lunar New Year holiday limited growth. Exports to the U.S. climbed 33.7%, while shipments to China increased 3.3%. Imports rose only 6.8%, below expectations. March exports are forecasted to grow 29–35%, though U.S. trade policy and geopolitical risks remain key factors.
DR Congo to Boost Artisanal Gold Sales, Central Bank May Lead Purchases
The Democratic Republic of Congo plans to sell 15 metric tons of artisanal gold this year, with the central bank likely the main buyer. DRC Gold Trading, fully government-owned since 2024, aims to formalize exports and build national reserves.
CEO Joseph Kazibaziba said deliveries will follow the central bank’s demand, while over 45 foreign buyers have shown interest. The firm, which previously bought minimal gold, is expanding operations across eight provinces amid rising bullion prices and informal mining growth.
Nigeria’s State Oil Giant Reports Revenue Drops To ₦2.57tn In January, Despite Slight Profit Growth
NNPC Ltd reported revenue of ₦2.57 trillion in January 2026, down from ₦4.82 trillion in December 2025. Statutory remittances to the Federation Account also fell to ₦726 billion from ₦1.27 trillion.
Despite the decline, the company recorded a slight rise in profit after tax, while gas production remained steady at 7.283 billion scf/day. Major gas projects, including the AKK and OB3 pipelines, also recorded progress.
