Iran Threatens Oil Tankers as $200/Barrel Price Risk Emerges Iran has declared that it will not allow a single litre of oil to pass through the Strait of Hormuz for the benefit of the United States, Israel, or their allies, warning that escalating tensions in...

History has an audacious way of repeating itself, often because actors fail to learn from previous events or because the universe intends to teach entirely new lessons.

Egypt has raised domestic fuel prices by up to 30%, citing “exceptional” global energy pressures caused by the ongoing Middle East war, which has disrupted oil supplies and shipping routes.

International airlines flying between Nigeria and the Middle East have lost more than ₦7.5bn in revenue after escalating conflict involving the US, Israel, and Iran.

‎Saudi Arabia and global markets are entering a new phase of economic uncertainty as the ongoing crisis involving Iran sends shockwaves through the world’s energy markets, trading floors and supply chains. Analysts warn the disruption could mark one of the most significant tests of global oil stability in years.

The Federal Airports Authority of Nigeria (FAAN) has announced flight cancellations and delays to Middle East destinations due to airspace closures.