…in the price of petrol at the gantry to N1,175 per litre after a global drop in crude oil prices. Crude oil prices stood at $76 and $80 for West Texas Intermediate and Brent blends as of the time of filing this report. It will be recalled that days after the reported completion of a peace deal with United States Presid…

Global oil prices could come under fresh pressure after Iran announced the closure of the Strait of Hormuz, a major shipping route for crude oil exports, raising concerns about possible increases in fuel costs across several countries. Iran on Saturday declared the closure of the strategic waterway, accusing Israel of…

…PETROAN stated that recent developments in the global oil market indicate that crude oil prices are experiencing a downward trend. The association said the moderation in crude prices should translate into lower petroleum product prices in Nigeria. "Brent crude has fallen to approximately $77-$78 per barrel following th…