US-Iran crisis pushes oil to $87, Nigeria gains $22/barrel

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US-Iran crisis pushes oil to $87, Nigeria gains $22/barrel

AI Summary

US-Iran tensions over the Strait of Hormuz have pushed oil prices up to $87 per barrel, a 5% increase, benefiting oil-producing Nigeria with gains of $22 per barrel. Bank of America warns that prices may continue to rise amid the geopolitical crisis.

By Udeme Akpan The latest disagreement between President Donald Trump and Iran over the reopening of the Strait of Hormuz has pushed up oil prices by 5 per cent to $87 per barrel from $83 per barrel in the global market. This was even as Bank of America (BofA) warned that oil prices could continue […] The post US-Iran crisis pushes oil to $87, Nigeria gains $22/barrel appeared first on Vanguard News.

World Security Politics Markets Commodities Energy oil prices US-Iran crisis Strait of Hormuz Nigeria oil gains Bank of America

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