Global oil prices spiked yesterday as Brent crude hit $82 per barrel and WTI sold at $70.91, following attacks on ships near the Strait of Hormuz. Analysts warned that if tensions persist, prices could soar above $100.

Dangote Increases Ex-Depot Petrol Price to N880   Dangote Petroleum Refinery, on Friday, increased its ex-depot price for Premium Motor Spirit to N880 per litre. The hike represents a N55 increase from the previous rate of N825 per litre. This raises fresh concerns over fuel affordability and price...

Brent Oil Price Nears 3-Month High, Reaches $76   Global oil prices held steady near a three-month peak yesterday, driven by strong demand from Asian refineries, which in turn boosted the value of certain Middle Eastern oil grades. Brent traded near $76 a barrel after earlier Monday...

Oil prices fell sharply on Monday, with both Brent and US West Texas Intermediate (WTI) crude sliding over 2%

Brent Crude Prices Rise by 3% Following Norwegian Outage, Ukraine War   Oil prices climbed more than 3 per cent on Monday after crude production was halted in Norway, which added to the latest escalation of the Russia-Ukraine war. Brent crude futures settled at $73.30 a barrel...

The price of oil ended a four-day losing streak by rising 1 percent on Friday, but fell for the week on concerns that strong US economic data would keep interest rates high.