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Business

Seplat, Aradel, Oando post ₦7.05trn revenue amid US-Iran war

Nigeria’s three largest listed upstream and integrated oil companies generated a combined N7.05 trillion in revenue during the first half of 2026, as the oil price rally triggered by the United States-Israel military campaign against Iran translated into one of the strongest earnings seasons the sector has witnessed in years. The figures, compiled from the […]

Oil and Gas

Oil prices surge Tuesday after fresh US strikes on Iran

Oil prices jumped again on Tuesday after fresh United States strikes against Iran that marked a new escalation in hostilities that has fuelled fears over their already fragile truce and the chances of another spike in inflation. However, tech firms enjoyed a much-needed reprieve after the latest bout of selling, although they only managed to […]

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Strait of Hormuz closed until further notice — Iran

Iran has closed the Strait of Hormuz until further notice. The closure will remain in effect until further notice, according to Iranian authorities. Iran has warned that any attempt by the United States to challenge the decision would trigger a “severe” military response. The Islamic Revolutionary Guard Corps announced the closure on Sunday. The IRGC […]

News

US military needs $80bn for Iran war — Report

The United States Defence Department will ask Congress to approve around $80 billion to cover costs from the Iran war and other expenses, the Wall Street Journal reported Thursday. President Donald Trump has faced backlash from Americans who accuse him of pouring billions of taxpayer dollars into the Middle East conflict while oil prices and […]

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Oil prices hit lowest since US-Iran war

Oil prices fell sharply on Thursday, dropping to their lowest levels since the outbreak of the US-Iran conflict, as an interim agreement between the United States and Iran improved prospects for global crude supply According to Reuters, Brent crude futures declined by $1.53, or 1.9 per cent, to $78.02 per barrel as of 1326 GMT, […]

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Oil prices slide below $80 on US-Iran peace hopes

Global oil prices extended their decline on Tuesday, falling to their lowest levels in about three months as investors reacted positively to expectations that the Strait of Hormuz could soon reopen following a peace agreement between the United States and Iran. Brent North Sea crude, the international benchmark for oil prices, dropped by 3.8 per […]

Oil and Gas

Oil prices fall as US-Iran deal reopens Hormuz Strait

Oil prices fell sharply on Monday while global equities rallied after the United States and Iran announced a deal to end their conflict and reopen the Strait of Hormuz, easing fears of supply disruptions. According to AFP, the two countries confirmed the agreement following a mediation effort by Pakistan, with a formal signing ceremony expected […]

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Trump vows to hit Iran ‘very hard tonight’, takeover oil markets

United States President Donald J. Trump has declared that American forces will strike Iran “VERY HARD TONIGHT,” claiming the Islamic Republic’s navy, air force, radar, anti-aircraft systems and most offensive capabilities “are GONE!” In the same statement, he outlined a longer-term plan to take control of Kharg Island and other key oil infrastructure points, thereby […]

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