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international

Oil prices fall after US-Iran ceasefire deal

Global financial markets reacted positively after the United States and Iran agreed to a conditional two-week ceasefire, which includes reopening the strategic Strait of Hormuz. The development led to a sharp drop in oil prices and strong gains in stock markets worldwide. Brent crude fell by around 13% to $94.80 per barrel, while US crude dropped more than 15% to $95.75. Despite this decline, prices remain above pre-conflict levels, when oil traded near $70 per barrel in late February. Energy markets had been under pressure due to disruptions in Middle Eastern supply, particularly after Iran threatened to target vessels passing through the Strait of Hormuz in response to US and Israeli strikes. Stock markets mirrored the improved sentiment. European indices opened higher, with London’s FTSE 100 rising by 2.53%, France’s CAC 40 gaining 4%, and Germany’s DAX climbing nearly 5%. […]

Abubakar April 8, 2026

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international

Oil prices plunge as Trump pauses Iran energy strikes

Oil prices fell sharply on Monday while European stock markets rebounded after United States President Donald Trump suddenly ordered a halt to planned strikes on Iranian energy infrastructure. His comments on Truth Social marked a sharp shift from his earlier threats over the weekend.​ Brent crude futures at one point dropped more than 14 percent before trimming losses to trade down about nine percent. West Texas Intermediate crude also slid, and European gas prices fell by around four percent as traders reacted to the pause in military action.​ Analysts said markets now need more clarity because Iran has publicly denied that any talks with the United States have taken place. That denial partly cooled the initial relief rally and reminded investors that tensions in the Middle East remain high.​ European stocks had opened the week with heavy losses but turned […]

Abdulmumini Auwal SA March 23, 2026

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Nigeria

Crude hits 114 as fears grow over fresh petrol price hikes in Nigeria

There are fresh concerns that petrol prices in Nigeria could rise further after Brent crude oil jumped to about 114 dollars per barrel following a sharp escalation in the United States and Israel war on Iran . Petrol is already selling for between N1,200 and N1,400 per litre in parts of the country, up from around N730 to N880 per litre before the conflict began on February 28 . Global prices surged after Israel struck Iran’s South Pars gas field, the world’s largest gas deposit, prompting Iranian missile and drone attacks on energy facilities in Qatar and Saudi Arabia and triggering fears of wider disruption to supplies . Brent crude rose by about 6.24 percent to 114.08 dollars per barrel, its highest level since May 2022, while US West Texas Intermediate crude climbed to around 96.33 dollars per barrel . […]

Abdulmumini Auwal SA March 20, 2026

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international

Oil climbs above $100 as Iran war batters Asian stocks

Oil prices have risen further above $100 a barrel as the Iran war moves into its third week, putting fresh pressure on global markets.Both Brent crude and US benchmark WTI extended recent gains, driven by fears of prolonged supply disruptions from the Middle East. Brent climbed by about three percent in early Asian trading, briefly touching around $106.50 before easing back toward $105.WTI hovered just under the $100 mark after also surging sharply since the conflict began. Since the start of the war, Brent has jumped by more than 40 percent, while US crude is up almost 50 percent.Analysts warn that rising energy costs risk fuelling inflation again and could slow global economic growth. Most Asian stock markets fell as investors reacted to the threat of an energy shock and reduced expectations of interest rate cuts.Indexes in Tokyo, Shanghai, Seoul, […]

Abdulmumini Auwal SA March 16, 2026

Nigeria

FG weighs options as Iran war pushes petrol above N1,000

The Federal Government is assessing its economic and diplomatic options as the war involving Iran, the United States and Israel begins to hit Nigerians through higher fuel prices and fresh pressure on the economy. Officials are closely tracking developments in the Middle East, where attacks on oil facilities, shipping disruptions and tensions around strategic waterways have driven up global crude prices. The conflict has already pushed Brent crude well above Nigeria’s 2026 budget benchmark, raising both risks and opportunities for Africa’s largest oil producer. On the domestic front, petrol prices have crossed or neared N1,000 per litre in many locations, with queues reappearing at filling stations across parts of the country. Marketers and analysts link the spike to higher international crude and freight costs, as well as supply constraints and the impact of the conflict on global refinery output and […]

Abdulmumini Auwal SA March 8, 2026

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international

Oil Prices Jump Amid Strait of Hormuz Crisis

Global oil prices climbed sharply after Iran intensified strikes across the Middle East, raising fears of disruption to energy supplies. Brent crude, the international benchmark, jumped 10% on Monday to briefly exceed $82 per barrel following reports that at least three vessels were attacked near the Strait of Hormuz over the weekend. Natural gas prices also surged by up to 25% amid concerns about supply constraints. Iran warned commercial vessels against passing through the strategic waterway, through which roughly 20% of global oil and gas shipments transit. Shipping activity at the entrance to the strait has slowed dramatically, with analysts cautioning that a prolonged disruption could drive energy prices significantly higher. In the UK, the FTSE 100 opened nearly 1% lower, with airline shares hit by widespread airspace closures across the Middle East. European markets experienced sharper losses: France’s CAC […]

Abubakar March 2, 2026

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international

Oil prices climb as Trump steps up threats against Iran

Global oil prices have risen again after US President Donald Trump intensified threats against Iran, fuelling fears of supply disruptions from the major crude producer. The latest gains come as US and Iranian officials hold sensitive talks on Tehran’s nuclear programme in Geneva. On Tuesday, US benchmark West Texas Intermediate climbed by around 1.5 per cent, while Brent North Sea crude also ticked higher in early trading. Late last month, Brent had already pushed above 70 dollars per barrel for the first time since July, with WTI moving past 65 dollars, as tensions escalated. The rally has been driven by a series of public warnings from Trump, who has repeatedly told Iran to accept a new nuclear deal or face military strikes. He boasted that a “massive armada” led by the USS Abraham Lincoln carrier strike group was heading towards […]

Abdulmumini Auwal SA February 17, 2026

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international

Oil prices tumble after Trump eases concerns over Iran

Oil prices have fallen sharply after US President Donald Trump signalled he may hold off on military action against Iran, easing fears of a sudden disruption to global crude supplies. The pullback comes after a week in which benchmark prices surged on worries that Washington could strike Iran over its deadly crackdown on protesters.​ US West Texas Intermediate crude dropped by more than 1 to 2, losing over 1 per barrel in early Asian trading after Trump said killings in Iran were “stopping” and there was “no plan for executions.” Brent crude, the global benchmark, fell by around 3, slipping back below 65 per barrel after gaining about 11 over the previous five sessions.​ Trump told reporters the US would “watch it and see,” comments that traders interpreted as a sign that an immediate strike on Iran was unlikely. Analysts […]

Abdulmumini Auwal SA January 15, 2026

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Nigeria

Dangote, Depots Cut Petrol Gantry Price to N840

Dangote Petroleum Refinery and several major depot operators have reduced the average gantry price of Premium Motor Spirit to N840 per litre, from N843 per litre. The adjustment follows a drop in global crude prices, with Brent crude trading at about 62 dollars per barrel over the weekend, easing refining and supply costs.​ Market data show that Dangote Refinery, AIPEC and NIPCO have all pegged their depot selling price at N840 per litre. Some others are slightly higher, with Rainoil at N844, Sigmund and Master Energy at N858 and Northwest at N850 per litre.​ Meanwhile, eight OPEC plus countries, including Saudi Arabia, Russia, Iraq, the UAE, Kuwait, Kazakhstan, Algeria and Oman, met virtually on 30 November 2025 to review market conditions and the outlook for early 2026. They confirmed an earlier decision to pause planned production increases in January, February […]

Abdulmumini Auwal SA December 1, 2025

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Uncategorized

Oil Prices Tumble After Israel Agrees to Iran Ceasefire

On June 24, 2025, news broke that Israel agreed to a complete and total ceasefire with Iran, brokered by U.S. President Trump. Traders reacted swiftly: West Texas Intermediate (WTI) crude dropped about 3% to settle near $66.50 per barrel, and Brent crude fell 2.9%–3.4%, landing in the $67–69 range. Why Prices Declined Reduced supply disruption risk: Ceasefire eased fears of conflict escalation through the Strait of Hormuz, a major oil transit route . De-escalatory signals: Iran’s limited retaliatory strikes and non-interference with shipping sparked confidence. Tech-driven market moves: Algorithmic sell-offs amplified the price slide once the geopolitical risk premium disappeared. Why This Drop Matters ReasonSignificanceCheaper Fuel CostsLower oil prices could ease inflation and reduce transportation/fuel expenses globally.Policy ImplicationsA price drop gives central banks relief, reinforcing dovish sentiment from figures like Fed’s Michelle Bowman .Investor Risk AppetiteOil decline helped boost global […]

Ahmad June 24, 2025

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