…August 17 and 21, 2026, driven by rising crude oil prices and supply concerns around the Strait of Hormuz.Calabar recorded the biggest increase, with Mainland’s price rising by N33 per litre, while Port Harcourt and Lagos also recorded notable increasesDangote Refinery also raised its petrol price by N20 to N1,185 per…

…$93 a barrel, driven by geopolitical tensions linked to Iran and disruptions around the Strait of Hormuz. Movements in international crude prices typically feed into the cost of refined products and can set a benchmark for domestic suppliers.Marketers buying diesel from Dangote Refinery will pay more as the refinery an…

…increases come as Brent crude trades above $90 per barrel, with tensions around the Strait of Hormuz adding uncertainty to global crude supply.Some depots have already adjusted their prices. Soroman increased its petrol price by N15 to N1,195 per litre, while PIVOT also sold at N1,195. Masters and Sigmund are at N1,185…

…fire intermittently, particularly around southern Iran and the strategically important Strait of Hormuz. ‎ The latest Iranian announcement also comes against the backdrop of repeated allegations that Tehran has considered retaliatory action against US President Donald Trump. ‎ During a NATO summit in Ankara, Turkey, in…

…President also spoke about Oman, which has been involved in negotiations to reopen the Strait of Hormuz. He told reporters: "If Oman gets in the way, we'll bomb the s*** out of them." The 60-day ceasefire between the US and Iran ends tomorrow, and tensions between the two nations are rising yet again. The Iranian milit…

…to watch' - Son Hamas ready to advance Gaza Peace Deal, calls on US to pressure Israel Strait of Hormuz will reopen only if US meets our conditions - Iran

Trump says US Is 'only semi-negotiating' with Iran as Strait of Hormuz tensions persist US President Donald Trump said that "we are only semi-negotiating" with Iran, noting that he is prepared to allow economic pressure on Iran to mount as opposed to ordering a new military offensive. "We are low keying it," Trump said…

…supreme leader Ayatollah Mojtaba Khamenei. Rezaei declared in July that control of the Strait of Hormuz, now at the centre of the ongoing conflict between Iran and the United States, was “more important than dozens of atomic bombs”. His predecessor, Zolghadr, was also a former Guards commander and took up leadership of…

Iran strike deal to police Strait of Hormuz as President Trump signals breakthrough Iran has said it is in the "final stage" of drafting an agreement with Oman over the Strait of Hormuz, following US President Donald Trump saying a deal could be announced this week. The shipping lane would primarily lie within Iranian…

…by geopolitical tensions in the Middle East and disruptions to shipping through the Strait of Hormuz. Although crude prices eased in June, they remained above levels recorded at the beginning of the year. The association said the figures showed that Nigerian consumers had become increasingly price-sensitive, with highe…

…suggestions that any change had occurred in the status of maritime traffic through the Strait of Hormuz. The denial came hours after Trump told reporters aboard Air Force One that Washington had paused military action in favour of diplomacy. "We're talking to them in the form of a negotiation. It begins tomorrow aftern…

…started on 28 February as traders reacted to disruptions to shipping through the Strait of Hormuz. Around 20% of the world’s crude oil and liquefied natural gas (LNG) usually flows through the strait. Iran’s semi-official Mehr news agency denied that Tehran had asked the US to hold off on further military action, sayin…

…that a deal is imminent," Trump observed, explaining that terms would cover both the Strait of Hormuz and Iran's nuclear program. The administration has maintained that the critical waterway must remain open and free of tolls for global oil shipments and trade, while ensuring Tehran cannot acquire nuclear weapons. Addr…

…seeks to permanently end military operations, lift U.S. naval blockades, and reopen the Strait of Hormuz. But a diplomatic pause that went into effect after the signing collapsed in July following breaches at Hormuz. The incidents triggered a new round of airstrikes and regional hostilities. Meanwhile, Iran’s Foreign M…

…negotiators, said “as long as the United States maintains its hostile actions, the Strait of Hormuz will remain closed.” Iran has blockaded Hormuz since the start of the war, requiring vessels to obtain permission and pay transit fees before using the waterway. AFP https://punchng.com/iran-denies-asking-us-not-to-strik…

…the "perimeters of a deal" being agreed upon, which would include the reopening of the Strait of Hormuz. "We have just been asked by Iran, and other Middle Eastern Countries, to hold off any attack in that the perimeters of a deal has been agreed to," Trump said in a post on Truth Social. "This would include the Immedi…

…Trump, the proposed agreement would include the immediate and complete reopening of the Strait of Hormuz and measures aimed at eliminating what he described as Iran’s nuclear threat. He said the decision to suspend military action was made in the interest of global stability and to allow negotiators an opportunity to f…

…UN Secretary-General António Guterres stated, calling for freedom of navigation in the Strait of Hormuz and Bab al-Mandab. The UN demands a ceasefire in the Gulf, warning that the conflict is driving global instability, disrupting trade, straining supply chains, increasing food and energy prices, and the risk of hunger…

…in fighting was aimed at kickstarting a new round of negotiations, including over the Strait of Hormuz, which Iran has blockaded throughout much of the Middle East war. The Revolutionary Guards said that they had attacked and stopped three tankers in the strait, insisting Iran has “full control” of the waterway, which…

…and Tehran gathered momentum, reducing concerns over a prolonged closure of the Strait of Hormuz, a critical global oil shipping route through which about a fifth of the world’s crude passes. Oil prices had surged after the United States launched strikes on Iran on February 28 to stop Tehran from acquiring a nuclear we…

…diplomatic efforts are centered on establishing a new agreement aimed at reopening the Strait of Hormuz and reviving broader negotiations regarding a comprehensive nuclear deal.While discussions are primarily taking place between Iran and Oman, key regional actors including Qatar, Pakistan, and Egypt, alongside Trump's…

Iran guards turn back six vessels in Strait of Hormuz Iran's Revolutionary Guards (IRGC) Navy has intercepted six vessels attempting to transit the Strait of Hormuz through routes not approved by Iranian authorities, according to Iranian state television.A state television correspondent reported on Monday, July 27, tha…

…but hostilities resumed earlier in July as the two foes battle over control of the vital Strait of Hormuz. AFP

…tankers, escalating disruptions to global oil shipping through both the Red Sea and the Strait of Hormuz. Houthi militia confirmed targeting the two Saudi Arabian vessels in a military operation.One of the two vessels was reported to be ablaze after an assault while sailing in the Red Sea.The Iran-aligned Houthis opene…

…island The United States has carried out a military strike on Iran's Larak Island in the Strait of Hormuz, further escalating tensions after President Donald Trump declared the US was "not finished" with the ongoing conflict.The strike comes as fighting around the strategic waterway derailed a preliminary agreement bet…