The Journal seeks to become the most reliable, first-choice Pan-Nigerian information and public knowledge platform. The Journal Nigeria is a serious Journalism from an African Worldview
The Journal seeks to become the most reliable, first-choice Pan-Nigerian information and public knowledge platform. The Journal Nigeria is a serious Journalism from an African Worldview
Global crude prices surged further after diplomatic talks to reopen the crucial Strait of Hormuz stalled. Brent crude futures moved higher while U.S. West Texas Intermediate extended a 10 percent rally racked up over the past week. Energy markets reacted sharply as hopes for a quick diplomatic deal between Washington and Tehran vanished. The stalemate…
Global oil prices slipped below $80 a barrel as energy traders bet on a diplomatic breakthrough between Washington and Tehran. Brent crude fell to three-month lows following signs of an impending deal and the reopening of the Strait of Hormuz. Traders stripped away the heavy geopolitical risk premium that previously inflated energy costs. Additional crude…
Global oil prices fell sharply on Monday as a pause in American air strikes offered rare respite to nervous energy markets. Brent crude slid more than 5% to $92 a barrel after two weeks of intense military action. Washington halted its bombardment of Iranian sites over the weekend to give diplomacy a chance. Tehran responded…
Brent crude closed above $100 a barrel on Thursday for the first time since late May, after Iran aligned Houthi fighters struck Saudi oil tankers in the Red Sea and opened a second maritime front in a conflict that has already crippled traffic through the Strait of Hormuz. The international benchmark settled 7 percent…
Global energy markets shuddered again on Thursday as crude prices spiked towards triple digits. International benchmark Brent crude jumped five per cent to hit an intraday peak of $98.80 a barrel. The sudden surge followed Houthi rebel claims of drone strikes against two Saudi oil tankers in the Red Sea. US West Texas Intermediate similarly…
Petroleum marketers returned to naira transactions at the Dangote Petroleum Refinery on Wednesday after a week of dollar denominated pricing that unsettled Nigeria’s downstream market, but the relief arrived with a higher bill, as the refinery lifted its ex depot petrol price by N140 per litre. A notice issued by the refinery’s commercial department,…
American warplanes pounded targets across southern Iran again on Thursday while Tehran fired drones and missiles at United States bases and allies in the Gulf, driving the reignited war over the Strait of Hormuz into a punishing sixth day and reviving fears of a fresh global oil shock. The US military said it launched…
The United States dollar retreated against major currencies on Tuesday after a sharper than expected slowdown in American inflation weakened the case for a Federal Reserve interest rate increase this month, even as a fresh flare up between Washington and Tehran over the Strait of Hormuz kept crude oil prices elevated and markets…
Global oil prices have eased after a sudden intraday spike triggered by a fresh attack in the Strait of Hormuz. International benchmark Brent crude fell 1.80 per cent on Friday to trade at $74.11 per barrel for August delivery. The reversal followed a brief 4 per cent rally on Thursday after a merchant vessel came…
Global energy markets face immediate downward pressure after a breakthrough agreement in the Middle East. Brent crude plunged below the critical threshold of 80 dollars a barrel on Tuesday. Investors rapidly unloaded contracts following news of a diplomatic breakthrough between the United States and Iran. This sudden sell-off reflects a sharp drop in the geopolitical…