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Iran will reciprocate if US honours deal — President

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Iran will reciprocate if US honours deal — President

President Masoud Pezeshkian said Iran will immediately reciprocate if the United States returns to its commitments under an interim deal signed in June. AFP reported that he made the comments at the Shanghai Cooperation Organisation Summit in Bishkek, Kyrgyzstan. The statement came after the first exchange of direct attacks in the U.S.-Iran conflict since late […]

News

US will achieve nothing with economic pressure — Iran’s president

Iranian President Masoud Pezeshkian on Wednesday said the “United States will achieve nothing” with its new round of economic sanctions, local media reported. “With the measures that the government’s economic sectors have foreseen, America will not achieve anything with economic pressure at this stage, just as it was unable to achieve anything in the war,” […]

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Hormuz Strait stays shut until US meets demands — Iran

Iran’s top negotiator Mohammad Bagher Ghalibaf said on Tuesday that the strategic Strait of Hormuz will not be opened until the United States meets Tehran’s demands, including lifting a naval blockade. “I want to state clearly that the Strait of Hormuz will not be opened until the American commitments stipulated in the memorandum of understanding… […]

Oil and Gas

Bonny Light nears $95 as Middle East tensions persist

The popular Nigerian crude contract, Bonny Light, approached the $95 per barrel mark amidst heightened market uncertainty driven by persistent geopolitical tensions, particularly in the Middle East and crucial global trade chokepoints such as the Strait of Hormuz. Brent crude prices increased by 6.5 per cent, while European gas prices rose by just under 9 […]

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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