Global financial markets faced a seismic shock on Monday as the intensification of the conflict between the United States, Israel and Iran sent crude oil prices soaring above $120 per barrel.
The Organisation of Petroleum Exporting Countries and its allies, (OPEC+) has decided to pause its planned oil supply increases through the first quarter of 2026, maintaining current production levels amid a global market surplus and uncertainty surrounding Venezuelan oil supplies.
Africa suffers an average of $12.7 billion in annual infrastructure losses from natural disasters, according to a new report by the Coalition for Disaster Resilient Infrastructure (CDRI).
Global crude oil prices have recorded a 3 per cent decline, falling below the $70 per barrel mark, following Israel’s agreement to a ceasefire deal brokered by US President Donald Trump to end hostilities with Iran.
Since early February, China has stopped receiving liquefied natural gas (LNG) from the United States, with the last tanker arriving on February 6 in Fujian province, according to the Financial Times.
