Crude oil prices remained below $100 per barrel on Sunday.
A YEMMEY NEWS market survey showed that Brent crude and West Texas Intermediate, WTI, crude stood at $98.32 and $90.83 per barrel, respectively, at the time of filing this report.
Although crude oil prices recorded slight gains, they had remained firmly below $100 per barrel following the US midterm elections.
Recall that the Democrats defeated US President Donald Trump’s Republican Party to regain control of both the House of Representatives and the Senate.
Trump had linked his party’s loss to the Iran war and soaring gasoline prices, although he said the ruling party would roll back its losses.
YEMMEY NEWS reports that since February this year, the war involving Iran, the US and Israel has persisted, resulting in fluctuations in crude oil prices, which have impacted domestic gasoline prices across several economies, including Nigeria.
While domestic fuel prices dropped in the latest week, they remained relatively high, ranging between N1,325 and N1,420 per litre in Abuja and its environs.
