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.
The Court of Appeal, Makurdi Division, on Thursday set aside the ruling of the Benue…
The Benue State Police Command has confirmed the tragic killing of prominent Otukpo-based lawyer and…
A bill proposing a six-year single term for the office of the president and state…
The Senate has approved President Bola Tinubu’s ₦1.77 trillion ($2.2b) loan request following a voice…
Finnish-Nigerian separatist leader, Simon Ekpa, and four others have been arrested in Finland for involvement…
Finnish-Nigerian separatist agitator, Simon Ekpa, and four other persons have been arrested in Finland over…
