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Petrol consumers in Nigeria could face fresh price pressure after international crude oil prices surged above $107 per barrel, raising concerns about higher fuel production and replacement costs in the country’s deregulated downstream petroleum market. Brent crude, the global benchmark, jumped sharply on Thursday, settling at about $107.63 per barrel after gaining more than…
Global oil markets reacted positively on Monday following the announcement of a peace agreement between the United States and Iran, effectively bringing an end to months of conflict that had disrupted international energy supplies and rattled financial markets. The breakthrough deal, which includes a ceasefire and plans to reopen the strategic Strait of Hormuz, has…
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