Reuters Africa Business

(Reuters) -A 90,000 metric ton cargo of gasoline from Nigeria’s Dangote refinery will be sold out of the region for the first time and bound for Asia, a source familiar with the matter. Since the 650,000 barrel-per-day refinery started gasoline exports last year, the cargoes have stayed in west Africa. Mercuria is due to load …

Nigeria to export first gasoline cargo to Asia from Dangote refinery, source says Read More »

By Sfundo Parakozov and Alessandro Parodi JOHANNESBURG (Reuters) -South Africa’s inflation rate was steady in May, staying below the central bank’s 3% to 6% target range as it pushes for the target to be lowered. Headline consumer inflation stood at 2.8% year-on-year last month, unchanged from April and in line with the median forecast of …

South African inflation steady as central bank pushes for lower target Read More »

By Laura Matthews and Lucy Raitano NEW YORK/LONDON (Reuters) -The U.S. dollar pared losses to trade firmer on the yen on Tuesday, after economic data showed American consumers growing more cautious as trade and inflation uncertainty lingered ahead of the Federal Reserve’s decision on interest rate later this week. U.S. retail sales were softer than …

Dollar trades higher after mixed US data, but Mideast conflict keeps mood tense Read More »

By Erwin Seba HOUSTON (Reuters) -Oil prices climbed over 4% on Tuesday as the Iran-Israel conflict raged with no end in sight, though major oil and gas infrastructure and flows have so far been spared from substantial impact. Brent crude futures settled at $76.45 a barrel, $3.22, or 4.4%. U.S. West Texas Intermediate crude finished at …

Oil prices rise more than 4% as Iran-Israel conflict escalates Read More »

By Karin Strohecker and Libby George LONDON (Reuters) -The chances of Afreximbank getting involved in a debt restructuring have increased, JPMorgan said on Tuesday, a development that could prompt ratings agency Fitch to lower the lender’s rating to junk and force some investors to sell its bonds. The African lender has been at the centre …

Afrexim increasingly likely to take hit on loans, says JPMorgan Read More »