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Tag: US-Israel-Iran War

Oil and Gas

OPEC+ raises oil quota for May amid Iran war

OPEC+ is set to raise its oil production quota by 206,000 barrels per day for May 2026. This is according to sources who spoke to Reuters ahead of the group’s meeting. However, the planned increase is expected to have limited real impact, as ongoing geopolitical tensions—particularly the U.S.-Israeli conflict with Iran continue to disrupt supply […]

List of Nigerians who own private jets
featured News

Iran shoots down US fighter jet, rescue mission begins

A United States fighter jet has been shot down over Iran and a search-and-rescue operation is underway for any survivors, two U.S. officials told Reuters on Friday, in the first such known incident since the war began nearly five weeks ago. According to Reuters, the Pentagon and U.S. Central Command did not respond to requests […]

Finance

Trump seeks $1.5trn 2027 defence budget amid Iran war

The White House sent a spending proposal to lawmakers Friday calling for a massive $1.5 trillion United States defense budget next year as it faces increased costs due to the war in Iran. The total year-on-year increase in Pentagon spending would be the largest since World War II, US media reported, although presidential budgets are […]

World

US-Israel-Iran war: UK to meet 35 nations for Hormuz Strait reopening

Britain will this week hold a meeting of about 35 countries to discuss how to reopen the strategic Strait of Hormuz which has been crippled by the Middle East war, Prime Minister Keir Starmer announced Wednesday. United Kingdom Foreign Secretary Yvette Cooper will host the discussions, Starmer told reporters during a Downing Street press conference, […]

Opinion

IMF warns Middle East war threatens Nigeria’s energy, food security

The International Monetary Fund has warned that the ongoing war in the Middle East is casting a shadow over the global economy, threatening recovery and triggering widespread disruptions. In a blog post by top officials, the IMF said the conflict, beyond its human toll, is “upending lives and livelihoods” while weakening growth prospects for economies […]

featured Oil and Gas

US-Israel-Iran war pushes oil prices to $117/barrel

Israel and Iran exchanged fresh missile strikes on Monday, driving oil prices sharply higher and fueling fears that the United States could escalate the conflict with potential ground raids on Iran’s Gulf islands. Iran retaliated with new attacks on a water desalination plant in Kuwait after domestic electrical facilities were hit over the weekend, leaving […]

featured News

Trump threatens to seize Iran’s oil fields amid tensions

United States President Donald Trump has said the US could move to seize Iran’s oil resources, including the key export terminal at Kharg Island, as tensions between the US, Iran and Israel continue to escalate. In an interview with the Financial Times on Sunday, Trump compared the possible move to Washington’s stance in Venezuela, where […]

Business featured

Middle East crisis threatens Nigeria’s manufacturing sector, MAN warns

The Manufacturers Association of Nigeria has expressed concern over the potential impact of the escalating military confrontations in the Middle East on the country’s manufacturing sector as possible disruptions to global shipping routes, volatile energy markets, and supply chain bottlenecks. MAN noted, “its vigilance regarding the escalating military tensions involving the United States, Israel, and […]

featured News

No negotiations yet amid US-Iran war, says Tehran envoy

Iran’s ambassador to Pakistan on Wednesday said there had been no talks between Washington or Tehran, after United States President Donald Trump signalled tentative progress in diplomatic efforts to end the war. “We have also heard such details through the media, but according to my information — and contrary to Trump’s claims — so far […]

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