World News
Russia-Ukraine war: Oil prices jump to highest point since mid-2008
Oil prices jumped on Sunday to their highest point since mid-2008, as the global market continued to suffer the consequences of Russia-Ukraine war.
The cost of Brent crude – considered the international benchmark – rose more than 9 per cent to a little more than $129 (£98) in the first few minutes of trade on Sunday, according to various reports. Meanwhile, West Texas Intermediate (WTI) crude rose 9.4 per cent to $126.51.
Both hit their highest values back in July 2008 when Brent shot up to $147.50 a barrel and WTI, $147.27.
The figures came after Antony Blinken, the US secretary of state, said the Biden administration and its European allies were exploring the option of banning Russian oil as a way to further sanction Vladimir Putin over his decision to invade Ukraine.
Meanwhile, the UK may move this week to ratchet up sanctions on Russia’s oil and gas industries – as reported by The Independent this week – as part of efforts to isolate Putin’s regime globally, Independent reports.
Soaring rice prices threaten Christmas celebrations for Nigerian families
Panic as Stage collapses during Odumodublvck’s performance at Lagos concert
2025 Budget: FG allocates ₦6.36bn for renovation of Tinubu, Shettima’s official quarters
Black Market Dollar to Naira Exchange Rate Today 22nd December 2024
NNPC debunks shutdown rumors, confirms fuel loading at Port Harcourt Refinery
‘We have to find a way’ – Guardiola laments after defeat to Aston Villa
Usyk beats Fury in heavyweight rematch
Southampton name Ex-Roma boss, Ivan Juric as new manager
EPL: Jesus double leads Arsenal’s five-goal rout against Crystal Palace
27 feared dead in Stampede at Christmas rice distribution event in Anambra
Tinubu honours Abuja, Anambra stampede victims, cancels all Lagos events
