diesel

The International Energy Agency is preparing its largest-ever strategic reserve release to counter oil price surges driven by Middle East tensions, while Nigeria grapples with gas shortages disrupting power generation and diesel price spikes threatening its generator-dependent economy.

Nigeria's state oil company raised petrol prices to N960/litre while Dangote Refinery lifted diesel to N1,050/litre, as Middle East geopolitical tensions push global crude benchmarks higher and disrupt energy markets.