Index to Nigerian Newspapers

Oil prices rose for the seventh consecutive week, the longest streak since 2022, due to the International Energy Agency's forecast of record global demand and tightening supplies. Brent crude futures rose 41 cents to settle at $86.81 a barrel, while U.S. West Texas Intermediate crude futures gained 37 cents to settle at $83.19. The IEA estimated that global oil demand reached a record 103 million barrels per day in June and could scale another peak this month. OPEC expects global oil demand to rise by 2.44 million barrels per day this year, with healthy prospects for the second half of the year. US economic data also lifted market sentiment, fueling speculation that the Federal Reserve is nearing the end of aggressive rate hikes.