Former president Jacob Zuma was never going to remain the all-powerful and omnipresent political figure that he thought, writes Pieter du Toit.
Showers late. More clouds than sun. Mild.
Fuel consumption increases during load shedding as consumers turn to petrol and diesel-powered generators.
The Department of Energy has announced price increases for petrol and diesel for the month of February.
Brent crude oil sank Friday under $70 per barrel before a weekend meeting of major oil producing nations in Abu Dhabi.
Brent oil soared close to $81, reaching the highest level since November 2014 after OPEC and other global producers snubbed pressure from US President Donald Trump to dampen prices.
Oil has been headed for its biggest weekly increase this year in London as sliding US inventories signalled the supply glut in the world’s biggest consumer may be easing.
Investors looking for a return of market volatility might see those chances increase this week, with geopolitical risks looming large.
Brent oil has dropped after a pledge by Russia and Saudi Arabia to cooperate to stabilize the market failed to include any specific measures to bolster prices.
Brent crude has swung between gains and losses near $40 a barrel as a dwindling rig count in the US countered Iran’s plans to expand production.
Brent oil has extended its decline from the lowest close in more than 12 years as rising U.S. crude stockpiles added to a swelling global glut.
US oil prices have edged up as the American oil benchmark finished above its European counterpart only days after the US lifted an oil-export ban.
Higher fuel prices have driven up March inflation, and economists expect inflation to tick up even more in coming months.
Oil briefly fell below $55 a barrel in London for the first time in a year as an US Federal Reserve interest-rate hike stoked demand fears just as markets contend with excess supply.
But the same data that suggests a petrol price cut shows there could be trouble for diesel users.
Oil has struggled to gain above $78 a barrel as the prospect of shrinking Iranian crude exports was countered by signs of higher output from top producers Saudi Arabia and Russia.
Brent crude has traded below $50 a barrel after ending the longest run of gains since 2012 as Russia was said to oppose any proposal to deepen OPEC-led production cuts.
Oil has dropped below $50 a barrel in London for the first time since late March on growing signs that OPEC’s production cuts are failing to clear a surplus of crude.
Brent has dropped for a second day as Russia signaled Iran won’t join major producers in freezing output to manage a global glut.
Brent oil has risen as Russia said talks on an output freeze will be done by March, while Nigeria said some countries should have production capped at higher levels.
Brent crude dropped to an 11-year low before weekly US government data forecast to show fuel supplies rose in the world’s biggest consuming nation.
Brent crude prices have pared gains as the market weighed a burst of optimistic news on demand against the global overhang of physical oil.
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