The Brent crude oil price above $100 has returned to global markets as the latest escalation in the Middle East raises fears that oil supply disruptions could last longer than previously expected. Brent crude futures briefly climbed above $100 a barrel on Wednesday, reaching about $100.19 before easing slightly. It was the first time the…
Brent crude has climbed above $95 per barrel as renewed US-Iran tensions raise fears of disruptions to oil supplies through the Strait of Hormuz, one of the world’s most important oil shipping routes. Brent reached about $95.40 in early trading on Wednesday, while WTI moved above $90. For Nigeria, the immediate concern is not simply…
Nigeria is once again facing the uncomfortable side of its dependence on crude oil. Global oil prices fell sharply after the United States signalled a move back towards diplomacy with Iran, with Brent crude dropping about 7% to settle at $83.77 a barrel on Monday. Nigerian crude was dragged lower after recently trading above $85,…
