Crude Shortage Stalling Nigerian Refineries – MAN   The inability of local refineries to secure enough Nigerian crude oil is threatening the country’s push for energy security and lower fuel costs, and setting off warning bells from manufacturers and business leaders. The Manufacturers Association of Nigeria (MAN)...

Global oil prices surged past $80 per barrel on Monday after renewed confrontation between the United States and Iran raised fears over shipping through the Strait of Hormuz, a vital oil transit route.

Oil prices fell after a record 19 million barrels of crude flowed through the Strait of Hormuz on Monday, according to US President Donald Trump.

Oil Exports Push Nigeria's Current Account Surplus to $4.98bn Nigeria’s current account surplus rose sharply by 255.7 per cent quarter-on-quarter to $4.98bn in the first quarter of 2026, driven by higher crude oil, gas and refined petroleum exports, as well as a steep decline in...

Global oil prices surged to $104 per barrel on Monday after peace talks between the United States and Iran collapsed, raising fears of renewed hostilities in the Middle East.

The United States spent $578.78m on Nigerian crude oil imports in the first quarter of 2026, down from $681.40m in the same period of 2025, according to data from the U.S. Census Bureau and Bureau of Economic Analysis.