Akintunde Oyedokun
Research Analyst
Oil prices stabilized on Monday after Russia restarted exports from the Novorossiysk hub following a brief shutdown. Brent held at about $64.46, while WTI hovered near $60.12.
The market remains on alert as Ukraine intensifies strikes on Russian energy facilities and the U.S. moves forward with tougher sanctions on Russian oil firms and their trade partners. Ongoing geopolitical risks continue to shape investor sentiment.
Canada’s Inflation Eases to 2.2% in October
Canada’s inflation slowed to 2.2% in October, led by lower gasoline and food prices and a drop in mortgage interest costs. Core inflation measures also eased, while rent inflation rose above 5%. The slowdown strengthens expectations that the Bank of Canada will keep its policy rate unchanged next month.
Cheaper fuel and easing price pressures signal a gradual relief for Canadian households.
India’s Trade Deficit Hits Record $41.7bn in October
India’s merchandise trade deficit surged to a record $41.68 billion in October, driven by higher gold and crude imports and falling exports to the U.S. amid steep tariffs. Overall exports fell to $34.38 billion, while imports rose to $76.06 billion. Service exports are estimated at $38.52 billion, leaving a $19.88 billion surplus. The widening deficit highlights ongoing challenges for India’s trade balance amid global tariff pressures.
Ivory Coast Cocoa Crop Benefits from Recent Rains
Light rains last week boosted cocoa trees across Ivory Coast, helping pods grow ahead of the main October-to-March harvest. Farmers expect more beans to ripen in December, with buyers satisfied with current quality. While some regions received above-average rainfall, others saw less, but overall conditions support a healthy crop. Temperatures last week ranged from 26.5°C to 29.9°C, favorable for cocoa development.
Ekiti Leads Nigeria’s Inflation in October 2025
Ekiti State posted the highest inflation in Nigeria at 20.1% in October, driven largely by rising non-food costs such as housing, transport, electricity, and healthcare, while food inflation eased slightly to 19.7%. Other states with high inflation include Nasarawa (19%), Zamfara (18.8%), and Ogun (18.3%). Despite Nigeria’s overall inflation easing to 16.05%, Ekiti remains the most expensive state, highlighting the growing cost-of-living pressures for residents.
This trend signals increasing financial strain on households across the state.
