Oil prices slip on Saudi supply boost as analysts urge caution on Dangote refinery listing.
Published
Goldman Sachs is forecasting an October interest rate hike by the Federal Reserve, underscoring renewed risks of monetary tightening in the United States. The call from the investment bank signals concern that inflation pressures may warrant further action from the central bank.
In Nigeria, the Dangote Refinery's planned initial public offering is drawing scrutiny from financial analysts who are urging potential investors to thoroughly evaluate earnings, cash flows, leverage, and governance before subscribing. Three analysts cited in the report — Uwaleke, Ndanusa, and Teriba — argued the listing could deepen the country's equity market and mobilize domestic savings, though they challenged the government to unlock value in public assets while preparing for the global energy transition. Rwanda plans to open the Dangote IPO to local investors.
Oil prices declined on Friday as hopes for additional Saudi crude supplies eased concerns about market disruption, outweighing the impact of fresh Houthi strikes in the region.
Sources: 1. The National: Incentives, cheaper stays and cost cuts: How hotels managed war shock in the region — https://www.thenationalnews.com/business/2026/09/18/how-hotels-became-creative-and-adapted-to-war-shock-across-region/ (src1) 2. CNBC: UN mission finds evidence signaling U.S. war crimes in Iran; Washington rejects report — https://www.cnbc.com/2026/09/18/us-iran-war-trump-hormuz.html (src2) 3.