Petrol Hits N1,400 as Middle East Crisis Bites
Nigerian petrol prices are climbing toward N1,400 per litre as a naval standoff in the Middle East chokes global supply. The failed ceasefire between the United States and Iran has kept the Strait of Hormuz closed, driving Brent crude from $105 to $118 per barrel in 48 hours. This volatility forced the Dangote Petroleum Refinery…