Business News Today
West Africa Oil Producers hit by Oversupply of Cheap Oil
West African crude producers, mainly Nigeria and Angola, are struggling to sell December and early January cargoes, with up to 26 shipments (including about 20 million barrels of Nigerian oil) remaining unsold as of mid-December 2025. The primary cause of which is a global oil surplus eroding demand for their grades. Cheaper alternatives such as Russian oil being off-loaded in India and Middle Eastern crude oil in Asia, boosted by Saudi price cuts and shorter freight routes, are displacing West African oil. China’s increased Saudi imports highlight this shift. These dynamics signal weakening fundamentals amid an oversupply of crude oil globally.
US inflation Drops Below Forecast
The annual inflation rate in the US came in at 2.7% for December 2025, the lowest since July this year. This was below a forecast of 3.1% and 3% reported for September. The energy index increased 4.2%, with gasoline rising 0.9%, fuel oil soaring 11.3% and natural gas gaining 9.1%. Also, food prices rose 2.6%, shelter cost was up 3% and other notable increases were recorded for medical care (2.9%), household furnishings and operations (4.6%), recreation (1.8%), and used cars and trucks (3.6%).
The lowest price increases were recorded for apparel (0.2%) and new vehicles (0.6%). Meanwhile, annual core inflation came in at 2.6%, the lowest since March 2021, compared to forecasts of 3%. The Bureau of Labour and Statistics (BLS), was unable to collect data for October 2025 due to the 43-day government shutdown. As a result, October figures were missing, and November monthly data were not released. However, the BLS said that the CPI increased 0.2% over the 2 months from September to November 2025.
South African Economy Positive
Yesterday saw a deluge of new South African economic data being released in South African, that point to improving economic fundamentals. The number of liquidations in the country, decreased by 9,5% in the three months ended November 2025 compared with the three months ended November 2024. From an export perspective, the unit value index (UVI) for exported commodities saw an annual rate of change of 5,5% in October 2025. From September 2025 to October 2025 the UVI for exported commodities increased by 0,4%. In additional affirmation of a stronger economy, the annual producer price inflation or PPI (final manufacturing) was steady at 2,9% in November 2025, unchanged from October 2025. From a tourism perspective, November’s foreign tourist arrivals grew by a remarkable 26.4% year-on-year, although this may have been boosted by the B20 and G20 events hosted in Johannesburg.
Breaking News Shorts:
- Japan’s 10-year government bond yield climbed to around 2% on today, approaching levels not seen in nearly two decades after the Bank of Japan raised its benchmark rate to the highest level since 1995. The central bank hikes rates by 25 basis points to 0.75% as it gradually moves away from ultra-loose monetary policy
- ChatGPT has launched an “app store”, letting developers know it’s open for business where App developers looking to launch their programs in ChatGPT can now submit them for review and potential publication, OpenAI said yesterday. The company also introduced a new app directory within Chat’s tools menu that has swiftly been dubbed an “app store.”
- India’s Parliament approved new legislation yesterday that enables the opening of the tightly controlled civil nuclear power sector to private companies.The government termed it a major policy shift to speed up clean energy expansion
- Platinum surged above $1,950 per ounce today, extending a record rally to its highest levels since 2008 as investors continued to pile into precious metals amid the roaring debasement trade. It has subsequently modulated to around $1940 with prices up by over 28% this month and up 10% this week alone
- Gold traded around $4,320 per ounce this morning, near its October record high and on track for a second weekly gain, while Copper futures held above $5.3 per pound, remaining near multi-month highs as strong demand from China and the US, the world’s two largest economies, continued to support prices.
Markets by Numbers
Currency markets indicate the US dollar marginally stronger today, with the Euro trading against the US dollar at 1.17188 while the Pound is trading at 1.33736 to the US dollar. The Yen is currently trading at 156.03 to the dollar. The rand (ZAR) is currently trading against the dollar at around R16.75.
Commodities:
- Gold futures are flat this morning, and are currently trading around $4322 per ounce.
- Copper prices are trending upwards today, with prices currently around $5.3920
- Silver futures are trending upwards, and currently trading around $65.404
- Platinum futures have seen a small correction from highs hit yesterday, with prices up over 10% THIS week, and currently trading at $1940.30, While Palladium prices are down -0.75% this morning, but up over 14% this week, and currently trading around $1724.50 per ounce.
- Brent crude oil prices are trending lower today, down over -2.2% for the week, and currently at $59.74 with WTI trading at $55.92
- Cocoa futures are slightly softer today, and currently trading around $5928.00 per ton.
- Coffee futures are currently trading at around $3.4 493 per pound
Crypto Currencies:
- Bitcoin prices are up by 1.6% this morning, and trading at around $86813 per coin currently
- Ether prices are surging this morning – up over 3%, and are currently trading around $2915.16
- $Trumpcoin are trending lower today, and currently trading around $5.081
(All prices quoted at approximately 07H05 Central African Time)
Africa News Briefs:
- Nigeria’s foreign minister, Yusuf Maitama Tuggar, travelled to Ouagadougou, Burkina Faso, yesterday, to deliver an official apology after a Nigerian military aircraft violated the airspace of the Alliance of Sahel States (AES). Tuggar was received by Burkina Faso’s military appointed president, Captain Ibrahim Traoré, to whom he conveyed Abuja’s regret over the incident, which had earlier been condemned in a statement by AES member states. Carrying a message of “solidarity and brotherhood” from President Ahmed Bola Tinubu to Captain Ibrahim Traoré, Tuggar praised Burkina Faso’s recent gains in the fight against terrorism. He reaffirmed the shared determination of both countries to work more closely together to improve regional security.
- Ghana’s parliament approved amendments to the Bank of Ghana Act yesterday, that will see more rigorous limits placed on the central bank financing of the government, aimed at safeguarding the banks independence. The Bank of Ghana (Amendment) Bill, 2025, prevents the central bank from buying government securities on the primary market and redefines emergency provisions that previously allowed officials to bypass a 5% lending cap tied to the prior year’s revenues.
