Akintunde Oyedokun
Research Analyst
Oil prices retreated on Tuesday, wiping out the prior session’s gains, as investors weighed U.S. tariff concerns, the Ukraine war, and risks to Russian fuel supply. Brent crude fell 2.3% to $67.22 per barrel, while WTI lost 2.4% to $63.25. Analysts noted that uncertainty around trade disputes and the ongoing conflict could keep Brent trading within a $65–$74 range. Recent Ukrainian strikes on Russian energy infrastructure and talk of U.S. sanctions have fueled volatility, even as Moscow revised up its crude export plans. Meanwhile, Washington is considering raising tariffs on Indian exports to as high as 50%, adding further pressure to global trade flows.
German Industry Sheds 245,000 Jobs Since 2019 As Revenue, Exports Decline
German industry is facing a deepening downturn, with revenues falling 2.1% year-on-year to €533 billion in Q2 2025 and employment dropping to 5.43 million, down 245,500 since 2019, an EY study shows. The sharpest cuts hit car manufacturing, which lost 51,500 jobs in a year amid competition from Asia, the costly EV transition, and high U.S. tariffs. Exports also slumped, down 10% to the U.S. and 14% to China.
UK Shop Prices See Sharpest Rise Since March 2023, Fueling Inflation Concerns
British shop prices climbed 0.9% in August, the biggest jump since March last year, driven by a 4.2% surge in food costs, according to the British Retail Consortium. Rising prices of staples like butter, eggs, and chocolate, pushed by supply strains and higher labour costs, could add to Bank of England worries over persistent inflation. The UK’s consumer inflation hit 3.8% in July and is projected to peak at 4% in September. Meanwhile, separate labour market data showed job vacancies slipped 1.2% in July with advertised salaries also easing, hinting at a slowdown in hiring.
Kenya Airways to Raise $500m After Swinging Back To Loss
Kenya Airways plans to secure at least $500 million in fresh capital by Q1 2026 to strengthen its fleet after reporting a half-year pretax loss of 12.17 billion shillings ($94m), reversing a profit in the same period last year. The airline attributed the setback to lower revenue and grounded aircraft but expects full fleet operations next year. CEO Allan Kilavuka said the funds will support expansion as the carrier seeks to recover from past debt struggles despite state support.
Petrobras to Return To Nigeria as Tinubu, Lula Deepen Ties
President Bola Tinubu has announced that Petrobras will soon resume operations in Nigeria, five years after the Brazilian oil giant exited.
During his State Visit to Brazil, both nations signed new agreements to boost trade, aviation, finance, and energy, while President Lula confirmed a new Air Peace flight from Lagos to São Paulo.
Tinubu assured investors that reforms are improving Nigeria’s business climate, as Petrobras explores fresh partnerships to re-enter Africa’s energy sector.
