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Price of Nigeria’s Bonny Light Crude Rises as WTI, Brent Crude Fall

Prices of crude oil listed at the International market saw a drop on Wednesday, July 31, 2019.

Leading this was the West Texas Intermediate (WTI) Crude which saw 16 Cent drop or 0.28 percent to trade at $58.

Brent Crude followed suit, as it saw a 24 Cents, equivalent to 0.37 percent to trade at $64 per barrel.

However, for the Nigerian Crude, Bonny Light; it was a different ball game as the crude registered a 27 Cents or 0.42 percent increase to trade at $66 per barrel as well as other listed Nigerian crude on the market, notably Brass River and Qua Iboe, which went up yesterday.

Brass River gained $1.19, indicating a 1.82 percent change to trade for $67, Qua Iboe also gained $1.19, equivalent to 1.82 percent to trade for $67 per barrel.

Meanwhile, U.S. and Chinese negotiators wrapped up a round of trade talks on Wednesday without visible signs of progress and put off their next meeting until September.

A Reuters monthly poll showed oil prices are expected to be range-bound 

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