Brent Crude & S&P Global Ratings

Brent Crude: Brent Crude prices directly influence the cost of refined petroleum products in Nigeria, with declines in its price leading to reductions in petrol and diesel prices by Dangote Petroleum Refinery and calls for similar reductions from marketers.

S&P Global Ratings: S&P Global Ratings upgraded Nigeria's sovereign credit rating, citing factors like improved economic performance and increased domestic refining capacity, which the Dangote Petroleum Refinery highlighted as a result of its operations.

Brent Crude: Brent Crude prices have surged above $94 per barrel due to supply disruptions, benefiting oil producers but hurting consumers.

S&P Global Ratings: S&P noted risks to Gulf banks and real estate from war.

Brent Crude: Seplat's realised oil price of $94.13 per barrel was a premium of $7.47 above Brent, benefiting from favourable commodity prices.

S&P Global Ratings: Upgraded Seplat's corporate credit rating to B+ in May 2026, reflecting stronger performance and balance sheet, supporting the company's financial credibility.

S&P Global Ratings: S&P Global Ratings issued a report assessing India's economic resilience to a sustained oil price shock, providing stress scenarios and forecasts for various economic indicators.