Akintunde Oyedokun
Research Analyst Oil prices were flat on Tuesday after Monday’s 2% drop, with Brent at $62.52 and WTI at $58.92. Traders are watching Ukraine peace efforts and Iraq’s renewed output at the West Qurna 2 field, which has added to supply pressure. The upcoming IEA report is expected to highlight a potential 2026 oil surplus, keeping Brent near $60 and possibly pushing WTI toward $56–$57. Markets also await the U.S. Federal Reserve’s expected rate cut, though oversupply concerns continue to limit price support.
Germany Records Small Export Gain as EU Trade Cushions Global Weakness
Germany’s exports rose slightly by 0.1% in October, beating expectations of a drop. Strong EU demand, with exports up 2.7%, helped offset sharp falls in shipments to the U.S. and China.
Exports to the U.S. fell 7.8%, while sales to China dropped 5.8%. Despite weaker exports, imports from China have grown over 10% this year.
With imports down 1.2%, Germany’s trade surplus widened to €16.9 billion in October.
RBA Holds Rates, Signals Possible Hike Amid Rising Inflation
Australia’s central bank kept interest rates at 3.6%, ruling out cuts for now, but flagged that a future rate hike is possible if inflation remains high. October’s inflation hit 3.8%, above target, while the economy grew at its fastest pace in two years and unemployment fell to 4.3%. The RBA’s hawkish stance boosted the Australian dollar and bond yields, with markets now pricing in potential rate increases early next year.
Kenya Cuts Interest Rate to 9% Amid Economic Risks
Kenya’s central bank lowered its key lending rate to 9% in its ninth consecutive cut to boost lending and support growth. The economy is growing around 5% annually but faces risks like potential drought. Inflation remains stable at 4.5%, within the target range, and the current account deficit is projected at 2.3% of GDP for 2025–2026. The move aims to encourage borrowing and investment while maintaining price and currency stability.
Nigeria Launches N50 Million Grant for Student Ventures
The Ministry of Education has launched the Student Venture Capital Grant (S-VCG), offering up to N50 million to student-led ventures. Applications close January 23, 2026.
Targeting undergraduates in 300 level and above, the programme provides funding, mentorship, and incubation to turn innovative ideas into viable businesses. Shortlisted teams will pitch to a panel of experts for selection.
