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The United States and Iran accused each other of breaching their fragile truce on Thursday following a serious exchange of fire, the most dangerous flare up since the ceasefire took hold in April and a stark reminder of how close the Middle East remains to renewed all out war three months after it began. The…
The United States military launched targeted airstrikes against Iranian missile sites and mine-laying vessels in southern Iran. American combat aircraft hit multiple installations near the strategically vital port city of Bandar Abbas. United States Central Command described the operation as a defensive action to protect regional forces from immediate threats. Military planners confirmed the destruction…
Global crude prices tumbled as traders weighed erratic diplomatic signals regarding a potential peace deal to end the US-Israel war on Iran. Brent crude fell 5 percent on Sunday to stand at $98.47 a barrel for July futures. This represents a 9 percent drop over the past month. Despite the decline, global prices remain more…
Iran has delivered its formal response to a US peace proposal through Pakistani mediators. While the contents remain secret, the exchange marks the first significant diplomatic movement since the conflict began in February. President Masoud Pezeshkian insists that negotiation does not signal surrender. He maintains that Tehran acts only to defend national interests and sovereign…
The fragile ceasefire between Iran and the American-Israeli coalition is buckling under fresh naval skirmishes. Iranian Foreign Minister Abbas Araghchi claims Washington prefers “reckless military adventure” over the diplomatic deals currently on the table. Both sides exchanged heavy fire in the Strait of Hormuz this week while accusing the other of starting the fight. Despite…
Oil prices fell on Wednesday as Donald Trump signaled a possible deal with Iran. Brent crude dropped 1.7% to $108 a barrel, while American crude fell to $100.60. This shift reversed a week of gains caused by fighting in the Middle East. Markets moved after the White House paused “Project Freedom,” a military plan to…
Oil markets remain unimpressed by Donald Trump’s latest attempt to play maritime saviour. The United States President announced “Project Freedom” on Sunday, promising to guide stranded vessels out of the Strait of Hormuz. Brent crude reacted with a yawn, hovering flat at $108.11 on Monday morning. Traders see the plan as a hollow gesture that…
Nigeria has pledged its total commitment to OPEC and the OPEC+ alliance. This move follows the departure of the United Arab Emirates (UAE) from the oil cartel on 1 May 2026. Officials in Abuja spent Friday insisting that collective action remains the best way to handle market volatility. They claim that the Declaration of Cooperation…
Nigeria’s domestic aviation sector remains under pressure as airlines continue operations despite renewed threats of a shutdown over rising jet fuel costs, highlighting deep tensions between global oil shocks and local pricing realities. Carriers under the Airline Operators of Nigeria had warned of a possible suspension of services, yet flight data shows key…
Global oil prices climbed sharply on Monday, with Brent crude rising by 2% to reach $109.33 per barrel. US-traded crude also saw a 2% gain, settling at $96.78. This upward momentum follows the continued closure of the Strait of Hormuz, a critical maritime chokepoint that handles approximately one-fifth of global oil and liquefied natural gas…
