Crude Hits $107 as Fuel Prices Surge

Higher Prices Lift 5-Month Crude Earnings to N20tn

Nigeria exported an estimated 148.9 million barrels of crude oil valued at N20.22 trillion during the first five months of 2026. This financial windfall comes despite persistent domestic challenges in hitting headline production targets. International oil prices surged following a geopolitical conflict in the Middle East that restricted passage through the Strait of Hormuz. High…

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Crude Surges as Hormuz Peace Deal Falters

Bonny Light Hits $78 as U.S.-Iran Tensions Set Global Oil Markets Ablaze

Global energy markets witnessed a dramatic convulsion yesterday as crude oil prices surged to new heights. Nigeria’s premium grade, Bonny Light, soared to $78 per barrel following intensified rhetoric from Washington. This price level represents the highest peak for the national crude grade since last August. Concurrently, the international benchmark, Brent crude, rallied by nearly…

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