…The development has raised fresh concerns over the impact of the sanctions on global oil markets, particularly as the conflict has disrupted energy supplies and shipping through the Strait of Hormuz. While some energy continues to flow through the strategic waterway, the US blockade of Iranian oil exports has effective…

…per barrel after US strikes on Iranian targets near the Strait of Hormuz rattled global oil marketsDangote Refinery raised its petrol gantry price three times in nine days, bringing the cumulative increase to N100 per litreNNPCL is now selling petrol at N1,299 per litre in Lagos and up to N1,345 per litre in parts of A…

…route through which about one-fifth of the world's oil previously passed. Global oil markets have remained volatile since the conflict began, with any confirmed attack on Kharg Island potentially adding further pressure to energy markets.Earlier on Sunday, August 30, a multinational coalition overseen by the US Navy sa…

…economic sanctions over direct military action. Following news of the strikes, global oil markets reacted immediately, with Brent crude rising 2.8% to $90.57 a barrel and US crude climbing 2.7% to $85.64 a barrel. Trump in recent weeks has focused on increasing economic pain for Iran rather than military actions, claim…

…in recent memory. This redirection has restored Nigeria’s credibility in international oil markets, allowing Nigeria to reclaim market share lost to Angola and Libya. “Economic stability follows predictability. When crude flows are secure, refineries can plan feedstock intake with assurance. Export commitments can be m…

…price increase flows through to the retail level.The adjustment comes as global crude oil markets remain under pressure. Brent crude has recently traded above $93 a barrel, driven by geopolitical tensions linked to Iran and disruptions around the Strait of Hormuz. Movements in international crude prices typically feed…

…could trigger a new round of price changesFuel price relief may be on the way as global oil markets record steep losses. Photo: Bloombergprices on Tuesday, August 4Dangote – N1,215 per litreAiteo – N1,215 per litrePinnacle – N1,215 per litreAfrican Terminal – N1,216 per litreArdova – N1,216 per litreIntegrated – N1,216…

…of petroleum products in our country?” Ukadike said.With depot prices rising and crude oil markets remaining volatile, Nigerians may face another round of fuel price increases in the days ahead.Depots hike petrol prices, release new rates nationwideLegit.ng earlier reported that Petroleum product depots across Nigeria…