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Nigeria’s fiscal prospects have brightened as the price of its premium crude grades, Brass River and Qua Iboe, soared to $113 per barrel on Thursday. This valuation places Nigerian oil significantly above the international Brent benchmark, which currently trades at $96 per barrel. The surge coincides with a jump in domestic production, which has reached…
Pope Leo XIV has declared a “moral obligation” to shield Lebanese civilians as diplomatic efforts to end the Middle East war falter. His appeal follows a collapsed summit between Iran and the United States in Pakistan. The 70-year-old pontiff spoke to crowds at St Peter’s Square during a period of escalating regional bloodshed. He insisted…
Consumer prices in the United States climbed sharply in March, driven by a historic surge in gasoline costs triggered by the ongoing conflict in the Middle East, according to government data released Wednesday. The US Bureau of Labor Statistics (BLS) reported that the Consumer Price Index (CPI) rose 3.3 percent year-on-year in March, a…
Global oil price hikes could drive Nigeria’s headline inflation up by 3.1 percentage points as the Middle East conflict continues to batter energy markets. In its latest Nigeria Development Update, the World Bank warned that the conflict has pushed crude prices to $80 per barrel, a 31% increase since hostilities began. This surge is already…
Israeli air defences intercepted multiple waves of Iranian missile fire early Thursday, with at least two attacks occurring shortly after United States President Donald Trump delivered a primetime address on the ongoing Middle East war, the Israel Defense Forces (IDF) confirmed. Police reported that officers were called to “several” impact sites in central Israel following…
The American dollar surged on Monday as investors abandoned riskier assets following a sharp escalation in the conflict between Israel, the United States, and Iran. Demand for safe-haven assets rose after hopes for a weekend de-escalation evaporated, amid fresh threats of infrastructure strikes. The dollar index climbed 0.29% to 99.83, reversing a brief period of…
United States President Donald Trump has threatened to “obliterate” Iran’s energy infrastructure unless the Strait of Hormuz is reopened within 48 hours. The ultimatum, posted to Truth Social on Saturday, expires at 23:44 GMT on Monday. Trump warned that the US would target Iranian power plants, “starting with the biggest one first,” if the world’s…
Mounting economic pressure linked to the Middle East conflict has pushed the Spanish government to roll out an emergency €5 billion support package, combining tax cuts, subsidies and price controls aimed at easing the burden on households and key productive sectors. Prime Minister Pedro Sánchez announced the measures after an emergency cabinet meeting, describing…
Israel launched coordinated strikes on Tehran and Beirut on Tuesday while attacks in Baghdad drew Iraq further into a widening Middle East conflict that has triggered severe economic disruption across global markets and displaced millions across the region. The Iranian capital, subjected to near-daily bombardment since a joint United States-Israeli military offensive began on…
United States President Donald Trump has issued a contradictory warning to Iran’s national football team regarding their participation in the 2026 FIFA World Cup, stating that their “life and safety” would be at risk if they compete in the tournament, just forty-eight hours after assuring FIFA President Gianni Infantino that the team would be…
