Israel-Iran Conflict: Petrol Price To Increase As Iran Moves To Shut Strategic Hormuz Strait
Iran’s parliament has voted to shut down the vital Hormuz shipping channel in retaliation against Donald Trump’s attack on the country, prompting fears of a sharp spike in oil prices that could cause a global recession. In Nigeria, petrol price is at risk of increasing from the current average of between N925-N950 per litre as prices are dependent on global rates. Trump ordered air strikes against three important nuclear programme sites in Iran this weekend with the U.S government saying the strikes completely obliterated Iran's nuclear ability. A barrel of Brent crude was selling for about $77 on Friday, June…












