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Gold prices crash to two-month low amid US-Iran war

Spot gold has fallen to a two-month low, testing a significant technical floor at its 200-day Simple Moving Average. A clear break below this $4,395–$4,400 structural zone could reveal more declines toward earlier consolidation pockets. Gold has dropped about two per cent to 3.5 per cent in Naira terms over the past month, reflecting the […]

Finance

African currencies depreciate amid US-Iran crisis — Report

African currencies came under renewed pressure following the escalation of geopolitical tensions involving the United States, Israel, and Iran, with currencies across the continent depreciating by 3.2 per cent as global investors retreated from emerging and frontier markets. This is according to a new report titled “Trade and Development Foresights 2026: Global economy faces a […]

News

Trump, Iran nearing historic deal to reopen Strait of Hormuz

Donald Trump has announced that the United States and Iran are close to finalising an agreement aimed at ending tensions between the two countries, with discussions now focused on concluding the final details. In a statement issued late Saturday, Trump said the proposed deal would include the reopening of the Strait of Hormuz, a key […]

Oil and Gas

Iran threatens tariffs on Strait of Hormuz internet cables

Iran has threatened to impose tariffs on Strait of Hormuz submarine cables, which are crucial for the region’s digital economy. After a sustained blockade of the Strait of Hormuz and leaving the world scrambling for oil and energy supplies, Iran’s Islamic Revolutionary Guard Corps demanded “protection fees” from foreign cable operators to provide them with […]

featured Oil and Gas

Iran sets up new body to manage Strait of Hormuz

Iran’s top security authority said on Monday it has established a new body to oversee operations in the Strait of Hormuz, a strategic waterway Tehran has effectively restricted and is now seeking to impose charges on vessels passing through. In a post on its official X account, the Supreme National Security Council announced the creation […]

News

Strait of Hormuz closed only to our enemies — Iran

Iran has said the Strait of Hormuz is open to shipping from all friendly countries and closed only to its “enemies”. The war in Iran has turned the Strait of Hormuz into a choke point so critical that one misstep could rattle every economy on Earth. “From our point of view, the Strait of Hormuz […]

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US-Iran war may raise condom prices in Nigeria — Experts

Health experts have warned that prices of condoms may increase in Nigeria, and likely lead to shortages if the crisis in the Middle East disrupting global oil supply chains continues. The experts in the pharmaceutical sector explained that the ongoing conflict between the United States and Iran was already disrupting supplies and raw materials used […]

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 […]

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