Oil prices drop to levels seen before the recent Iran conflict, giving global markets a reason to relax. Brent crude, the global oil benchmark, fell to $72.24 per barrel on Thursday. That is slightly below the price recorded before the US and Israel launched missile strikes on Tehran. Oil prices have now dropped by more…
Iran has announced the closure of the Strait of Hormuz, escalating tensions in the Middle East. Iranian state media reported on Saturday that the Strait of Hormuz has been closed, citing alleged violations of the memorandum of understanding signed between the United States and Iran. The announcement came shortly after US Vice President JD Vance…
Petrol price in Nigeria may fall to ₦900 per litre if the US-Iran truce succeeds and crude oil prices continue to decline— Oil Marketers The possibility of cheaper petrol is raising fresh excitement across Nigeria. Industry operators say petrol prices could drop to as low as ₦900 per litre if the proposed peace deal between…
US President Donald Trump has rejected Iran’s latest peace proposal, raising fresh fears over the fragile Iran ceasefire. President Donald Trump said the Iran ceasefire is hanging by a thread after dismissing Tehran’s latest proposal to end the conflict as “totally unacceptable.” Speaking at the Oval Office on Monday, Trump described the ceasefire between Iran,…
Iran has officially responded to US proposals aimed at ending the war and easing tensions in the Strait of Hormuz. Iran says it has submitted its official response to a United States peace proposal designed to end the ongoing conflict in the Gulf region and restart negotiations over its nuclear programme. According to Shehbaz Sharif,…
Iran says Washington is escalating conflict even as ceasefire talks continue. Iranian Foreign Minister Abbas Araghchi has accused the United States of choosing a “reckless military adventure” whenever diplomacy is possible. His comments came after both countries blamed each other for fresh attacks in the Strait of Hormuz. In a post on X, Araghchi said…
The United States says it carried out “self-defense” strikes after Iranian forces targeted American warships in the Strait of Hormuz. The U.S. military confirmed that American forces struck Iranian military targets on Thursday after missiles, drones and small boats allegedly attacked three U.S. Navy destroyers transiting through the Strait of Hormuz. According to U.S. Central…
Tehran is reviewing a US-backed proposal that could end the Iran conflict and reopen the Strait of Hormuz. Iran says it is still considering a proposal from the United States aimed at ending the ongoing conflict and restarting broader diplomatic talks. The development comes as Donald Trump predicted the war would be “over quickly” if…
IRGC hints at safer shipping routes as tensions with the US remain high. Iran’s Islamic Revolutionary Guard Corps (IRGC) has suggested that the Strait of Hormuz could reopen fully if what it calls “aggressors’ threats” come to an end. In a statement, the IRGC Navy said safe and sustainable passage through the vital shipping route…
US signals possible breakthrough but threatens escalation if talks fail. Donald Trump says a potential deal with Iran could end the ongoing conflict and lift the U.S. naval blockade, but warned that military action could escalate if negotiations collapse. In a social media post, Trump said the war and restrictions on shipping could end if…
