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Oil Sustains Rally on U.S-Iran Sanctions

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  • Oil Sustains Rally on U.S-Iran Sanctions

Crude oil sustained its four-year high on Tuesday, boosted by possible U.S. sanctions on Iranian exports and the refusal of OPEC and Russia to increase output to fill the gap.

The Brent crude oil gained 89 cents to peaked at $82.52 a barrel at 4:30 p.m. Nigerian time, before pulling back to $81.94.

UKOilWeeklyU.S crude, West Texas Intermediate, gained 37 cents at $72.45 a barrel to reach the highest since mid-July.

Experts expect the United States to target Iran’s oil exports with sanctions from November 4, while applying pressure on companies and governments dealing with Iran to fall in line and cut purchases.

President Trump, who is due to address the U.N. General Assembly later today, said: “I’m not meeting with them until they change their tune. It will happen. I believe they have no choice. We look forward to having a great relationship with Iran, but it won’t happen now.”

The sanctions are expected to hurt Iran’s crude exports and weaken its economic productivity.

Harry Tchilinguirian, head of commodity markets strategy at French bank BNP Paribas, during an interview with Reuters, said: “Iran will lose sizeable export volumes, and given OPEC+ reluctance to raise output, the market is ill-equipped to fill the supply gap.”

However, Mohammad Barkindo, secretary general of the Organization of the Petroleum Exporting Countries (OPEC), said it is imperative for the cartel and its partners to cooperate so it will not “fall from one crisis to another”. Meaning, OPEC at some point might fall in line and increase supply as demanded by President Trump on Saturday.

Global oil demand is expected to grow by 1.4 million barrels per day (bpd) in 2018 and 1.5 million bpd in 2019, according to the International Energy Agency recent forecast.

Therefore, if OPEC and partners fail to raise output going into the fourth quarter of the year, oil price might rise to $90 a barrel by Christmas, when Iranian exports would have stopped, and $100 in the New Year.

CEO/Founder Investors King Ltd, a foreign exchange research analyst, contributing author on New York-based Talk Markets and Investing.com, with over a decade long experience in the global financial market.

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Florence Ajimobi, Wife of Late Abiola Ajimobi, Says ‘I miss my Husband’

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Abiola Ajimobi

‘I miss my Husband’ Says Florence Ajimobi, Wife of Late Abiola Ajimobi

Florence Ajimobi, the widow of Ex-Governor of Oyo state, late Abiola Ajimobi has expressed how much she missed the presence of her husband.

In an interview granted to a delegation of the Nigerian Union of Journalist, Oyo State Chapter at her residence in Oluyole, Ibadan, Mrs. Ajimobi described her late husband as a hero who impacted on many lives.

She said “My husband lived 70 years. 70 years of fulfillment, achievements and impact on many lives. Forever, I will be proud of him. I called him my hero. He is my hero and will forever be my hero.

“For me, he is never late and we shall live forever. He is a man I love, cherish, and will forever be in my heart.

She also acknowledged that her husband’s death was God’s call which everyone will answer one day.

“I don’t want to behave like an unbeliever because I know nothing happens without God’s input. We are all here one day and we are all going back one day.

“Nobody knows when death is going to come. I believe so much in destiny and I believe my husband’s time was up. He lived a fulfilled life.

“I am crying because I missed him. I missed everything about him. I miss his love, his advice. Having him around me was my strength. He was my greatest supporter.

“He thinks I am a strong woman but this time, I tell you I am not a strong woman. He used to give me all the strength I needed as a woman.

“So when I cried, not because he hasn’t achieved much, but because I missed so much about him,” she added.

Ajimobi explained that what consoles her is knowing that her husband is at peace.

What does it profit a man even if he lived up to 90 years and he can’t make heaven? Abiola Ajimobi made heaven and he is at peace with God. That is my greatest consolation.”

“Whoever is begrudging Abiola Ajimobi, who else do you want to begrudge now? The man is dead. That peace you cannot make again. You cannot rectify it.”

“I know whoever is not happy with him will feel that guilt forever because the opportunity to make up with him is gone.”

“Life is short. Abiola Ajimobi has gone today, who is next? Nobody knows. It could be anybody,” she said.

Mrs. Ajimobi, who was glad to have spent 40 years with her late husband, expressed the family’s readiness to uphold his legacies going forward.

I am proud to share the best 40 years of my life with him. I know the journey ahead of me is a long one but with God on my side, it is achievable.

“I know God will sustain us, our family, and his political family. God will give the family the strength to uphold his legacies and to continue the good work he has done.

“When I listen to all the good things people have to say about him, I am so pleased to have him as a husband. I am proud to be his wife,” she said.

Late Governor Abiola Ajimobi died on Thursday June 25, 2020, at First Cardiology Hospital, Ikoyi, Lagos.

Ajimobi died of multiple organ failure, he was on life support machine after slipping into a coma after contracting coronavirus.

Late Ajimobi was the governor of Oyo State for eight years (2011-2019).

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Iron Mike Tyson to Take on Roy Jones Jr on September 12

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Iron Mike Tyson Once Again Steps in the Ring at 54

The youngest heavyweight champion of the world, who broke PPV records and once called the “baddest man on the planet” Mike Tyson will make a Comeback fight against the Four-Division world champion Roy Jones Jr on 12th of September.

On Thursday 23 of July 2020, Mike on his Twitter handle @mike tyson tweeted “I . AM . BACK #legendsonlyleague. September 12th vs @RealRoyJonesJr. On #Triller and #frontlinebattle @tysonleague.”

The eight-round fight will take place in California as sanctioned by the state’s athletics commission. The fight will be broadcast on Triller and Pay-per-view as confirmed on Thursday by Triller.

The executive director of the state’s athletic commission Andy Foster said the fighters would not be wearing headgear and would be using the Larger – than – normal 12oz gloves.

Mike TysonTyson, 54, became the youngest ever heavyweight champion in 1986 and remain champion until he was defeated by James “Buster” Douglas in 1990.

Mike hasn’t boxed since 2005 when he lost his second straight fight.

Jones, 51, won the heavyweight title in 2003. Prior to winning the heavyweight title, he won titles in the middleweight, super middleweight and light heavyweight. This made him the first former middleweight champion to do so in 106 years.

While many have raised concerns about the fight given the age of the two fighters. Mike Tyson has said: “My mentality is just what it’s always been.

“How do I say this? I’m an annihilator… Man for man I don’t think nobody can match me…

“I’m the greatest fighter since the conception of God, how could I not take this opportunity up?”

He added: “My ego’s f***ing with me and I’m saying, ‘N***a, you think you fly? You ain’t s***. An amateur can get in here and kick your ass, you better get on top of your game. You want to get embarrassed in front of these f***ing people?’

Mike Tyson “Then the other ego says, ‘F*** you n***a, watch what I’m gonna do.’”

He, however, concluded by laughing, pointing to his head and saying: “You don’t know what goes on up here.”

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Secondary School Students in Exit Classes to Resume School on August 4, 2020

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Secondary School Pupils in Exit Classes to Resume School

The Federal Government on Monday said secondary school students in the exit classes will resume school on August 4, 2020 just to sit for their final examination that will commence on August 17, 2020.

The decision was announced after a virtual consultative meeting between the Federal Ministry of Education, Commissioners of Education of the 36 states, the Nigerian Union of Teachers, (NUT), the proprietors of private schools, and Chief Executives of examination bodies.

The government said the students will have two weeks to prepare for the West Africa Senior School Certificate Examination organised by the West Africa Examination Council.

Ben Goong, the Director, Press and Public Relations, FMoE, said “stakeholders at the meeting agreed that the exit classes should resume immediately after the Sallah break, from the 4th of August, 2020 to enable them prepare for the WAEC examinations scheduled to commence from the 17th of August, 2020.

“The meeting also resolved that a passionate appeal be made to the Federal Government through the Presidential Task Force on COVID-19 and public spirited Nigerians for assistance to schools across the country to enable them fast track the preparations of safe reopening, as agreed.

“Another meeting is to be convened tomorrow between the Federal Ministry of Education and Chief Executives of examination bodies namely, NECO, NABTEB and NBAIS to harmonise their examination dates, which will be conveyed to stakeholders expeditiously by the Federal Ministry of Education.”

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