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Global energy markets were upended on Monday as Brent crude prices jumped 8% to top $103 a barrel. The spike follows President Donald Trump’s announcement of a naval blockade targeting Iranian ports. Prices surged past the psychologically critical $100 mark shortly after ceasefire talks in Islamabad collapsed over the weekend. US Central Command confirmed the…
Global renewable energy capacity reached an unprecedented 5,149 gigawatts in 2025, marking a watershed moment in the worldwide transition away from fossil fuel dependence. The International Renewable Energy Agency disclosed the figures in its Renewable Capacity Statistics 2026 report, which documents the addition of 692 GW during the year and positions renewables as the dominant…
British Prime Minister Keir Starmer will travel to the Gulf region on Wednesday for high-level consultations aimed at consolidating a fragile ceasefire in the Middle East and securing the strategic Strait of Hormuz, Downing Street announced. The diplomatic mission follows the overnight confirmation of a ceasefire agreement in the prolonged conflict that has destabilised…
Oil prices climbed on Monday as a fresh cycle of threats between Washington and Tehran dashed hopes for a diplomatic truce. President Donald Trump used his Truth Social platform to warn of an imminent strike on Iranian power plants and bridges. He demanded that Iran bow to his terms for reopening the Strait of Hormuz….
Nigeria has stopped gambling with its energy security. Vice President Kashim Shettima made this clear on Thursday while commissioning the new head office of the Nigerian Electricity Liability Management Company (NELMCO) in Abuja. The government views the power sector as the primary floor for national progress. This new facility in the Asokoro District is not…
Iran on Monday issued sweeping threats to deploy naval mines across the Gulf and strike power infrastructure throughout the Middle East, defying a United States ultimatum to reopen the Strait of Hormuz as the military confrontation with Washington and Israel entered its fourth week. The Islamic Republic showed no sign of backing down ahead…
South Africa, Ghana, and Kenya have approached the Dangote Petroleum Refinery to secure emergency fuel contracts as the Middle East energy crisis threatens continental supplies. Bloomberg reported on Friday, 20 March 2026, that Pretoria is seeking a 12-month supply deal to insulate its economy from the fallout of the Iran-Israel conflict. The 650,000-barrel-per-day facility in…
Japan has commenced the release of its strategic petroleum reserves in response to a coordinated global effort by International Energy Agency member states to stabilize oil markets following price surges triggered by escalating conflict in the Middle East. The Japanese government confirmed the drawdown on Monday through an official notice published in the government…
Two Indian-flagged vessels carrying liquefied petroleum gas have successfully crossed the Strait of Hormuz, marking a rare instance of commercial shipping movement through the critical waterway that has been effectively closed by Tehran amid escalating conflict in the Middle East. Rajesh Kumar Sinha, special secretary of India’s ministry of ports, shipping and waterways, confirmed…
Renewed Iranian attacks on energy infrastructure have pushed Brent crude back above $101, neutralising a record release of strategic reserves by the International Energy Agency (IEA). Despite the IEA dumping 400 million barrels into the market, the effective closure of the Strait of Hormuz has kept traders on edge. Roughly one-fifth of the world’s crude…
