Plummet

Airfares from Europe to the United States have plunged to levels not seen since prior to the Covid-19 pandemic. This trend has been largely driven by a noticeable decrease in travel from Western Europe, a behavior that is anticipated to persist at least until next month. According to preliminary data from the US National Travel and Tourism Office (NTTO), overseas arrivals to the United States dipped by 2.8% in May compared to the previous year. Interestingly, while travel from Western Europe fell by 4.4% during this…

European shares experienced a substantial decline today, marking their steepest loss in eight months. The drop comes amidst rising concerns that an intensifying trade war could hinder economic growth, particularly following the significant tariffs announced by U.S. President Donald Trump. The CAC in Paris closed down 3.3% at 7,598, while Frankfurt's DAX dropped 3% to 21,700. London's FTSE index fell by 1.55% to settle at 8,474. Additionally, Dublin's ISEQ index saw a decline of over 2%, closing at 10,145. In the lead-up to…

In the ever-evolving landscape of Nigeria's oil market, a recent revelation has captured the attention of industry insiders and consumers alike. As of now, oil marketers are grappling with a significant challenge: the steep landing cost of fuel stands at N797.66 per liter. This scenario exists despite the concerted efforts by these marketers to curb their losses by reducing fuel purchases. One can't help but wonder: How long can this continue? As the ripple effects of a fierce price war initiated by…