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Oil and Gas

US-Iran war pushes France trade deficit to €6.9bn

Rising oil prices owing to the Iran war saw France’s trade deficit widen by 1.4 billion euros in March to 6.9 billion euros, authorities said Thursday. According to AFP, imports hit 59.3 billion in March, an increase of 1.8 billion over the previous month. Customs authorities stated that was largely due to the “rise in […]

Oil and Gas

Nigeria eyes ₦6.8trn oil windfall from US-Iran war

Nigeria could record an additional N6.8 trillion in oil revenue in 2026 as rising crude prices driven by the ongoing US-Iran conflict strengthen the country’s fiscal outlook. This is according to BMI, a unit of Fitch Solutions, in its latest Sub-Saharan Africa market assessment for April, which also raised Nigeria’s 2026 growth forecast. The report […]

featured Travel

UAE bans travel to Iran, Iraq, Lebanon amid tensions

The United Arab Emirates Ministry of Foreign Affairs on Thursday announced a travel ban preventing Emirati nationals from visiting Iran, Lebanon and Iraq, citing escalating regional tensions linked to the ongoing Middle East conflict. According to AFP, the move comes amid heightened insecurity following a prolonged crisis triggered by a United States and Israeli military […]

Oil and Gas

Oil prices climb as Iran war talks stall again

Oil prices rose Monday as talks to end the Iran war appeared to be at a standstill and the crucial Strait of Hormuz no nearer being reopened. While the White House has said Donald Trump and his team were considering Tehran’s latest proposal to restore traffic through the waterway, CNN and the Wall Street Journal […]

News

Trump cancels Iran peace talks in Pakistan

United States President Donald Trump announced he had cancelled his envoys’ planned trip to Pakistan for peace talks with Iran on Saturday, but said that did not mean an immediate resumption of the US-Israeli war against the Islamic republic. Shortly before the announcement, Iranian Foreign Minister Abbas Araghchi wrapped up his own diplomatic visit to […]

featured Transportation

EU explores alternative gulf energy routes amid US-Iran war

The ongoing Iran conflict and resulting disruption to global energy flows have pushed the European Union to explore alternative energy transport routes in the Middle East, as soaring oil and gas prices strain member states and expose vulnerabilities linked to the Strait of Hormuz. European Commission President Ursula von der Leyen said the bloc is […]

Oil and Gas

Tankers turn back as Hormuz crisis deepens shipping chaos

Traffic once again seized up in the Strait of Hormuz as both Tehran and Washington imposed separate blockades, with Iranian vessels continuing to test the United States shutdown, tracking data showed Monday. Iran announced on Friday that it would reopen the strategic waterway, but the United States did not reciprocate for vessels going to and […]

Finance

Dollar hits one-week high as US-Iran tensions spike FX fears

The United States dollar climbed to a one-week high against major currencies on Monday as renewed tensions between the United States and Iran dampened hopes for a Middle East peace deal. Reuters reported that this follows developments over the weekend in which the United States seized an Iranian cargo ship, escalating geopolitical uncertainty. The situation […]

World

IMF pledges $50bn aid to Nigeria, others amid US-Iran war

The International Monetary Fund has indicated plans to provide up to $50 billion in financial support to Nigeria and other countries affected by the biting impact of the ongoing Middle East crisis. Managing Director of the IMF, Kristalina Georgieva, disclosed this at the unveiling of the Fund’s Global Policy Agenda during the ongoing Spring Meetings […]

featured Opinion

US-Israel-Iran war worsening economic woes of Nigeria, others — G24

The G-24 has expressed deep concern over multiple political crises and conflicts across the world, warning that the escalating war in the Middle East is worsening global economic fragility and undermining growth prospects, particularly for emerging markets and developing countries. Nigeria and many other nations in Africa and across the world are categorised as developing […]

featured Finance

Iran estimates $270bn cost of US-Israel war damages

The Iranian government on Tuesday estimated the cost of the war launched by the United States and Israel since February at $270 billion. AFP reported that Iranian government spokeswoman Fatemeh Mohajerani told the Russian state news agency RIA Novosti that the figure was a preliminary estimate. According to Mohajerani, the first step in arriving at […]

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