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.

Oil Prices Plunge To $95 On Prospect Of Iran’s Nuclear Deal   Oil prices plunged yesterday amid a considerable progression in restoring Iran’s 2015 nuclear deal with world powers. Brent crude futures, the global oil benchmark, fell $1.3 per cent to $95.31 a barrel. US West Texas Intermediate,...

Iran, Argentina Apply To Join BRICS Bloc After Recent Summit - Reports   Iran and Argentina have applied to join the BRICS mechanism, the Russian state media reported, days after a summit of the five-nation bloc during which the leaders agreed to continue to discuss the...

Oil Hits $71 On Rising Demand Hopes In US, China       Oil prices were higher on Wednesday as negotiations over the Joint Comprehensive Plan of Action continued to falter, and as a rebound in oil demand in China, the United States and Europe threatened to outpace...