Akintunde Oyedokun
Research Analyst
Oil prices were mixed on Wednesday, with Brent rising 0.2% to $109.04 a barrel and US WTI falling 0.1% to $97.72.
Hopes for Russia-Ukraine peace talks weighed on prices, while vessel attacks near the Strait of Hormuz and falling US crude inventories raised supply concerns. US crude stocks dropped by 3.06 million barrels to 412.5 million barrels last week.
New Zealand Inflation Eases to 3.7%, Rate Hike Looms
New Zealand’s annual inflation eased to 3.7% in the third quarter, below forecasts of 3.8% but above the central bank’s 1%–3% target. Rising fuel and construction costs continue to pressure prices, strengthening expectations of another interest rate hike next week.
UK Inflation Climbs to 3.5%, Raising Rate Hike Bets
UK inflation rose to 3.5% in September from 3.1% in August, driven by higher fuel costs. Government debt also exceeded £3 trillion, adding pressure ahead of the October 28 budget.
The data strengthened expectations of a Bank of England rate hike to 4% on November 5.
Tunisia Targets 16% Renewable Energy by 2027
Tunisia plans to increase renewables’ share of its electricity mix to 16% in 2027 from 12% this year, adding 1,600 MW of capacity to address power shortages. The country aims to generate 35% of its electricity from renewable sources by 2030.
Nigeria’s Money Supply Rises to ₦146.6tn in September
Nigeria’s broad money supply rose by 5.4 per cent to ₦146.6tn in September 2026 from ₦139.09tn in August, bringing growth since January to 18.3 per cent.
The increase followed the CBN’s decision to cut its benchmark interest rate to 23 per cent from 26.5 per cent. Narrow money supply also rose to ₦44.05tn from ₦43.11tn, signalling increased liquidity in the financial system
