War: Oil prices fall as US, Iran reach ceasefire agreement
Oil prices have gone down, while stocks are rising and bonds are becoming stronger after the United States and Iran agreed on a two-week ceasefire. This move is expected to help bring peace to the Middle East. However, it is still not clear how this agreement will affect Nigerians. Many people in Nigeria are already […]
War: Trump names countries that refused to help US, as UN prepares for action
Donald Trump has openly criticized some allied countries, including Australia, Japan and South Korea, saying they have not given enough support to the United States during the ongoing conflict involving Iran. Speaking at the White House, Trump defended the performance of the US military in the Middle East, saying they are doing very well. However, […]
Iran war: Expert forecasts Strait of Hormuz blockade effects on Africa
An expert has warned that any closure of the Strait of Hormuz due to the ongoing Iran war could have serious consequences for Africa. Ronald Mlalazi said the route handles a large portion of global oil shipments, making it critical for many African economies. He explained that beyond fuel, the route also supplies fertilisers, gas, […]
US: Oil prices surge as Iran’s drone sets Kuwait’s crude tanker ablaze
Oil prices surged after an Iranian drone attack set a Kuwaiti crude oil tanker on fire near the Gulf, raising global supply concerns. The blaze on the vessel, carrying millions of barrels of crude, highlighted risks to shipping in a key energy region. Traders reacted quickly, driving up prices as markets feared further disruptions to […]
Fuel price hike: Experts, CSOs divided on subsidy as Nigerians face worsening hardship
Rising fuel prices in Nigeria have sparked fresh debate, with experts and civil society groups divided on whether the government should reintroduce subsidies or provide relief measures. The increase has worsened economic hardship for many citizens. The price surge is linked to global oil market disruptions caused by tensions involving Iran, the United States, and […]
US Could ‘take Out’ Iran’s Kharg Island Any Time – White House
The United States has warned that it could strike Kharg Island at any moment, as tensions with Iran continue to rise over the ongoing conflict in the Middle East. The statement from the White House came after reports suggested that Donald Trump is considering options to either seize or block the island to pressure Iran […]
Trump threatens to ‘blow up’ the world’s largest gas reserve if Iran continues attacking Qatar
US President Donald Trump has warned that the United States could “massively blow up” Iran’s South Pars gas field if Tehran continues attacks on energy infrastructure in the Gulf. The statement follows Israeli strikes on the South Pars field, the world’s largest shared gas reserve between Iran and Qatar, which escalated tensions in the region. […]
Europe rejects Trump’s call to secure Strait of Hormuz
European leaders have rejected a request by Donald Trump to support efforts to secure the Strait of Hormuz amid rising tensions in the region. The issue was discussed during a meeting of EU foreign ministers in Brussels. The United States had urged several countries, including the United Kingdom, France, and Japan, to deploy naval forces […]
Trump Warns NATO of Serious Consequences If Allies Refuse to Help Secure Strait of Hormuz
Former U.S. President Donald Trump has warned that NATO could face serious problems in the future if its allies refuse to support the United States in addressing the growing tensions with Iran. He said countries that benefit from global oil shipments should also take responsibility for helping to keep important trade routes safe. Trump’s comments […]
Iran: UK Defence minister gives only solution to rising oil price
The United Kingdom has said that calming the conflict involving Iran is the most effective way to bring global oil prices back to normal. Defence Secretary John Healey explained that tensions around the Strait of Hormuz have pushed crude oil prices close to $100 per barrel. Healey noted that reports suggest Iran may be attempting […]