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.
Nigerians spent more than ₦50bn on US visa applications between 2023 and 2024, despite a sharp decline in approvals as Washington tightened immigration rules.
Tensions in the Middle East escalated on Saturday as Iran announced the closure of the Strait of Hormuz, accusing the United States of violating prior agreements amid a continuing naval blockade.
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.
