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featured Oil and Gas

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, […]

featured Oil and Gas

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 […]

featured News

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 […]

Ports and Airports

NSC blames Middle East crisis for Apapa port gridlock return

The Nigerian Shippers’ Council has attributed the resurgence of traffic congestion and operational hiccups along the Apapa port corridor to disruptions in the global supply chain triggered by the ongoing Middle East crisis. The Council’s position comes amid growing concerns by stakeholders over the return of gridlock on the Mile 2-Apapa Expressway, where truck queues, […]

Economy featured

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 […]

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