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Washington, March 9, 2026 – The United States-Israel war on Iran could leave consumers and businesses worldwide facing weeks or months of higher fuel prices even if the conflict, which is now in its eighth day, ends quickly, as suppliers grapple with damaged facilities, disrupted logistics, and elevated risks to shipping. The outlook poses a global economic threat and a political vulnerability for US President Donald Trump leading into the midterm elections, with voters sensitive to energy bills and unfavourable to foreign entanglements. Global oil prices have surged by more than 25 …

Washington, March 6, 2026 – Goldman Sachs said oil prices are likely to exceed $100 per barrel next week if no signs of a solution emerge ​to the severe disruption in flows through the Strait ‌of Hormuz, warning that upside risks to its base‑case forecast are rapidly growing further. The bank said it plans to revisit its oil price forecast ​soon if it does not see evidence supporting its assumption ​of a gradual normalization in Strait of Hormuz flows ⁠over the next few days. Its current base‑case Brent forecast is …

Abuja, March 7, 2026 – Thirty banks have met the new minimum capital requirements of the Central Bank of Nigeria (CBN). The CBN disclosed this in a statement on Friday. Mrs. Hakama Sidi Ali, its Acting Director of Corporate Communications, said the exercise was designed to strengthen the resilience, stability, and long-term capacity of Nigeria’s banking sector to support economic development. “Since the introduction of the policy, banks across the industry have taken steps to strengthen their capital base in line with the revised regulatory requirements. “As of March 6, …

By Paul Ejime Abuja, March 7, 2026 – President Bola Ahmed Tinubu has finally approved the postings of 31 career and 34 non-career Nigerian ambassadors-designate to various countries and the United Nations, more than three years following his inauguration in May 2023. They were named in batches last year and screened by the Senate. According to a State House statement on Friday, 6th March, the envoys-designate include Prof Mahmood Yakubu, former Chair of the Independent National Electoral Commission (INEC), who is posted to Qatar, as well as Reno Omokri and …

Abuja, March 6, 2026 – A Federal High Court in Abuja on Friday granted N200 million bail each to Abubakar, Malami, a former Attorney General of the Federation, his wife, Asabe Bashir, and their son, Abdulaziz Malami. The bail was granted with two sureties in like sum. Justice Joyce Abdulmalik granted the bail at the resumed in Abuja on Friday.. The court ordered that one of the sureties must deposit title deeds of properties located in either Maitama or Asokoro in Abuja. It also directed the defendants should deposit their …

Washington, March 6, 2026 – US gasoline pump prices advanced to the highest level at any time under President Donald Trump, with the conflict in the Middle East disrupting energy supplies. The average retail price of gasoline rose to $3.32 gallon on Thursday, according to the American Automobile Association. Futures have also rallied 27% this week and are on track for the biggest weekly advance since March 2022. Trump has frequently touted cheaper gasoline when talking about American energy dominance, but the run up in fuel costs could pose a …

Birnin Kebbi, March 6, 2026 – Residents of Kamba in Dandi Local Government Area of Kebbi State have welcomed the opening of a new branch of Fidelity Bank Plc, describing it as a major milestone that will ease long-standing financial and logistics challenges faced by farmers, small-scale traders and individuals in the community. Dr. Mansur Isah-Kamba, the Chairman of Dandi Local Government Council, described the branch as a welcome relief after years of limited access to formal banking services. Represented by the Council Secretary, Alhaji Abdulkadir Muhammad, Isah-Kamba noted that …

By Noor Zainab Hussain and Manya Saini Bengaluru; March 6 (Reuters) – As the conflict in the Gulf widens, maritime insurance premiums for war coverage are surging — in some cases by more than 1000% — dramatically driving up the cost of moving energy ​through a critical maritime corridor. The conflagration sparked by Saturday’s Israeli-U.S. air strikes against Tehran has paralyzed traffic through the Strait of Hormuz, a major shipping chokepoint. Iran ‌on Monday said it would fire on any ship trying to pass, and at least nine vessels have suffered damag in the area …

London, March 6, 2026 – Crude oil was headed on Friday for its sharpest weekly gain since Russia launched its full-scale invasion of Ukraine ‌in February 2022, as conflict in the Middle East kept shipping and energy exports through the vital Strait of Hormuz blocked. Brent crude futures have surged 20% this week, while West Texas Intermediate has jumped 25%. On Friday, Brent extended its climb and was up $2.09, or 2.45%, to $87.50 per barrel at 0953 GMT. WTI ​rose $3.76, or 4.64%, to $84.77. Both benchmarks traded at …