Oil prices rose on Monday as stalled Iran talks raised concerns over supply disruptions. Brent gained 0.5% to $88.95 a barrel, while WTI rose 0.3% to $82.65. Both gained more than 5% last week.
Slower shipping through the Strait of Hormuz supported prices, though analysts expect gains to remain limited unless supply disruptions worsen.
Canada Inflation Hits 3%
Canada’s annual inflation rose to 3% in July, driven by higher gasoline and travel costs. Monthly inflation increased 0.5%, above expectations.
Core inflation remained near 2%, strengthening expectations that the Bank of Canada will keep interest rates unchanged. The Canadian dollar gained 0.17% to C$1.3851 per U.S. dollar.
China’s Industrial Growth Slows in July
China’s industrial output growth slowed to 4.5% year-on-year in July from 5.3% in June, missing analysts’ 4.8% forecast.
Retail sales also weakened, rising just 0.6% compared with 1% in June and below the expected 1.5% increase. Fixed-asset investment fell 6.7% in the first seven months of 2026, worse than the 6% decline forecast, after dropping 5.7% through June.
Hichilema Wins Second Term in Zambia
Zambia’s President Hakainde Hichilema has won a second term with about 60% of the vote, defeating Brian Mundubile, who secured 38%.
The election was marred by violence reports and a temporary suspension of vote counting. Mundubile alleged possible result manipulation and may challenge the outcome in court.
Nigeria Inflation Drops to 15.43%
Nigeria’s headline inflation fell to 15.43% in July 2026 from 15.91% in June, according to the NBS. Month-on-month inflation eased to 1.57%, while core inflation dropped to 14.97%.
However, monthly food inflation rose to 5.56%, keeping food prices a major pressure point despite the broader moderation in inflation.
SOURCE: investdata.com.ng
