Skip to content
Project Freedom: Oil prices surge, equity markets sink on Hormuz clashes
Frank Okon The confrontation between United States and Iran over the control of the Strait of Hormuz rattled the global commodity and equity markets on Monday when Iran claimed it hit a US warship, raising fears that bombs would soon…
From Epic Fury to Project Freedom: U.S. pushes back Iran in the Strait of Hormuz
Full Story: Oracle reporters, with agency reports A fragile calm in the Strait of Hormuz gave way to renewed confrontation this week as U.S. forces engaged and repelled a wave of Iranian attacks, marking a sharp escalation around one of…
Shipping: MSC charts new route to bypass Strait of Hormuz
Frank Okon Global shipping is adjusting to rising instability in the Middle East, with Mediterranean Shipping Company (MSC) announcing a new Europe–Red Sea–Middle East express service aimed at keeping cargo moving while bypassing one of the world’s most volatile maritime…
US forces move to reopen Strait of Hormuz, Iran fires at ships, UAE
Ziggy Ojiegbe The United States military said Monday it engaged Iranian forces and sank six small boats as it moved to reopen the Strait of Hormuz, a vital artery for global energy shipments, amid renewed tensions with Tehran. The operation…
Hormuz stalemate: UN warns trade disruption comes with global recession risk
Ziggy Ojiegbe The United Nations has called for urgent action to resolve the escalating crisis in the Strait of Hormuz, warning that continued disruption to one of the world’s most critical shipping routes is already placing severe strain on the…
OPEC reports sharp drop in Middle East oil output amid Iran war
The Organization of the Petroleum Exporting Countries (OPEC) has reported a significant decline in crude oil production among its member states, citing the ongoing conflict involving Iran as a major disruptor to supply across the Middle East. In its production…
Dangote warns rising oil prices may ground Nigerian airlines
Demands subsidies for farmers Ziggy Ojiegbe, with agency reports Chairman of the Dangote Group, Aliko Dangote, has called on the Nigerian government to introduce targeted subsidies for farmers, warning that surging global oil prices could cripple both agriculture and aviation…
Oil slumps as Strait of Hormuz reopens despite U.S. blockade on Iran
Ziggy Ojiegbe Iran said it has fully reopened the Strait of Hormuz to commercial shipping, triggering a sharp drop in global energy prices and raising cautious optimism that tensions with the United States may be easing, even as Washington insists…
Iran slips 3 oil cargoes through Strait of Hormuz as tensions ease
Ziggy Ojiegbe Three Iranian oil tankers carrying roughly five million barrels of crude have successfully exited the Gulf, marking the first such movement since Washington imposed a blockade on Iran’s oil exports earlier this week. The development raises fresh questions…
Middle East war portends $58 bn repairs cost on energy sector – Rystad
Frank Okon The ongoing conflict involving Iran and regional tensions has pushed potential repair costs for damaged energy infrastructure to as much as $58 billion, according to new analysis by Rystad Energy. The estimate marks a sharp increase from an…
