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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…
Nigeria’s equity market grew by N1.4 trillion last week as institutional demand for blue-chip stocks remained high. The total value of listed companies on the Nigerian Exchange reached N131.17 trillion by Friday. This rally pushed the All Share Index up by 1% to cross the 200,000-point milestone. Large-cap stocks in the banking and industrial sectors…
Rising energy costs and fractured supply chains are threatening to derail Japan’s fragile economic recovery. In its quarterly report released on April 6, the Bank of Japan (BOJ) warned that the war in the Middle East is beginning to squeeze regional businesses. Policymakers noted that while the domestic economy remains resilient, the closure of the…
Oil prices are flirting with a four-year high as OPEC+ struggles to bridge a massive supply chasm. Eight member nations agreed on Sunday to raise production quotas by a modest 206,000 barrels per day for May. The move is largely symbolic. Ongoing hostilities between Israel, the United States, and Iran have effectively choked the Strait…
Beijing has called for an immediate cessation of military hostilities in the Middle East following United States President Donald Trump’s threat to unleash devastating strikes on the Islamic republic in the coming weeks. Foreign Ministry spokeswoman Mao Ning told a regular press conference on Thursday that “military means cannot fundamentally solve the problem, and…
American motorists are now paying more than $4 per gallon at the pump for the first time in nearly four years, as the ongoing US-Israeli war against Iran continues to choke global energy supplies through the shutdown of the critical Strait of Hormuz. The American Automobile Association (AAA) confirmed that the national average…
Global oil prices dropped sharply and stock markets rallied on Wednesday after reports emerged that the United States had transmitted a peace proposal to Iran, while Tehran announced it would allow vessels it deemed non-hostile through the Strait of Hormuz, offering the first concrete signs that nearly four weeks of conflict could be winding…
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…
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…
Fresh tensions in the Middle East have pushed global energy markets into uncertainty, as United States President Donald Trump publicly declared that Israel would not carry out further strikes on Iran’s key gas infrastructure, while warning of severe consequences if hostilities continue. The statement followed a sharp escalation involving Iran, Israel, and Gulf energy…
