Crude oil prices have surged to above $112 per barrel as the
Iran-United States-Israel war escalation entered day 21 on Saturday amid a
surge in domestic petrol prices in Nigeria.
Brent crude rose by 3.26 percent on a day-to-day basis to
$112.2 per barrel, and West Texas Intermediate crude blend increased by 2.80
percent to $98.23 per barrel as of filing the report.
The crude oil price upsurge comes as the US, Israel, and
Iran have not been able to agree on a ceasefire deal.
Trump, in a post on his Truth Social, had hinted at ‘winding
down’ its military actions in the Middle East.
Unperturbed about Trump’s disposition, Iran on Saturday
fired missiles at the Chagos Islands, a remote British overseas territory
located more than 2,000 miles from Tehran, Iran’s semiofficial Mehr news agency
reports.
This comes after the United Kingdom Prime Minister Keir
Starmer hgave the US approval to use its bases for strikes against Iran.
Earlier, Iranian Foreign Minister Seyed Abbas Araghchi
warned PM Starmer that his actions were putting British lives in danger.
Part of the direct effect of the Iran-US-Israel war is a
hike in the domestic price of petrol. On Friday Dangote Refinery, which is
Africa’s largest plant, increased its gantry fuel price for the fourth time in
March 2026 to $1,245 per liter. The decision had caused some petroleum
marketers and filling station owners in Nigeria to hike their petrol pump price
to between N1,331 and N1,430 per liter in Abuja.
Advertise on NigerianEye.com to reach thousands of our daily users
No comments
Post a Comment
Kindly drop a comment below.
(Comments are moderated. Clean comments will be approved immediately)
Advert Enquires - Reach out to us at NigerianEye@gmail.com