Oil prices climbed Thursday after President Trump warned that a “massive armada” is heading toward Iran, ramping up pressure on the country to reach a nuclear deal.

Brent crude rose 1.7 per cent to $69.61, while United States WTI increased 1.96 per cent to $64.45.

“A massive Armada is heading to Iran. It is moving quickly, with great power, enthusiasm, and purpose,” Trump said in a post on his social media platform Truth Social.

The U.S. Central Command announced on Monday that the Abraham Lincoln Carrier Strike Group has arrived in the Middle East “to promote regional security and stability.”

The growing US military presence, combined with yesterday’s draw in crude inventories, signals potential supply constraints that are likely to support prices in the near term.

Nigeria’s average crude oil output (excluding condensates) stood at around 1.45 million barrels per day (bpd) in 2025, while total hydrocarbon production, including condensates, averaged about 1.64 million bpd.

Production showed notable month-to-month fluctuations, with December 2025 output at roughly 1.422 million bpd, down from 1.436 million bpd in November.

OPEC+ has maintained Nigeria’s crude quota (excluding condensates) at 1.5 million bpd through December 2026.