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Just in: Oil Falls With Brent Below $100 Per Barrel On Hopes Of US-Iran Hormuz Deal

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The price of North Sea Brent crude and West Texas Intermediate slipped close to five percent to $99.41 and $92.49 a barrel, respectively.

The United States and Iran appear closer than ever to a deal that would end the war that has ravaged the Middle East since late February, sending energy prices soaring and stoking global inflation.

But sticking points in their negotiations have tempered hopes of a swift resolution to restore the transit of oil and gas through the Strait of Hormuz.

US President Donald Trump said on Sunday he had informed US negotiators “not to rush into a deal”.

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“The negotiations are proceeding in an orderly and constructive manner, and I have informed my representatives not to rush into a deal in that time is on our side,” a post to Trump’s official Truth Social account said.

Iran’s Tasnim news agency said that, based on their information, key clauses of a possible agreement remained unresolved.

One of the main sticking points has been whether Tehran is willing to hand over its stockpile of highly enriched uranium.

The release of Iran’s frozen assets held under longstanding US sanctions and whether Lebanon, repeatedly targeted by Israeli strikes, will be included in any peace deal are also key issues.

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Markets across Asia climbed in early trade on hopes that Washington and Tehran will be able to overcome these hurdles.

Tokyo soared more than three percent in early trade on Monday, while Hong Kong and Seoul were closed for public holidays.

Shanghai inched upwards, with Taipei, Manila, Bangkok, Jakarta, Singapore, Sydney, and Wellington also climbing.

Kuala Lumpur was down 0.1 percent.

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“The weekend news flow has once again focused on the prospects for a negotiated deal between the US and Iran,” said Chris Weston, head of research at Pepperstone.

“According to reports from Donald Trump, a memorandum of understanding has been ‘largely negotiated’, with details to be announced at some stage soon, although there appears to be limited urgency,” Weston said.

Investors will also be keeping an eye on how the US Federal Reserve and its new chief, Kevin Warsh, react to Personal Consumption Expenditures (PCE) data this week, as well as European inflation metrics.

“The inflation story remains central to the entire setup,” said SPI Asset Management analyst Stephen Innes.

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“Investors will receive another critical read on Thursday with the release of the Personal Consumption Expenditures index, the Federal Reserve’s preferred inflation gauge.

“After several hotter-than-expected consumer and producer inflation reports earlier this month, markets are increasingly concerned that elevated oil prices and supply disruptions tied to the Middle East conflict are beginning to seep into the broader inflation pipeline.”

The conflict erupted after the United States and Israel attacked Iran on February 28, and the Islamic Republic responded with missile and drone attacks across the region.

The United States and Iran have observed a ceasefire since April 8 while mediators push for a negotiated settlement, although Tehran has imposed controls on Gulf shipping and Washington has blockaded Iran’s ports.

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Currency dealers monitor exchange rates as an electronic screen shows the prices of WTI (L), Brent crude (C), and Dubai crude (R) in a foreign exchange dealing room at the Hana Bank headquarters in Seoul on March 13, 2026. (Photo by Jung Yeon-je / AFP)

Key Figures At Around 0215 GMT

Brent North Sea Crude: DOWN 3.99 per cent at $99.41 a barrel

West Texas Intermediate: DOWN 4.25 per cent at $92.49 a barrel

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Tokyo – Nikkei 225: UP 3.2 per cent at 65,358.97

Shanghai – Composite: UP 0.3 per cent at 4123.89

Hong Kong – Hang Seng Index: UP 0.9 percent at 25,606.03 (close)

Euro/dollar: UP at 1.1640 from 1.1608 on Friday

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Pound/dollar: UP at $1.3480 from $1.3441

Dollar/yen: DOWN at 158.86 from 159.13 yen

Euro/pound: DOWN at 86.35 from 86.36 pence

New York – DOW: UP 0.6 per cent at 50,579,70 (close)

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New York – S&P 500: UP 0.4 per cent at 7,473.47 (close)

New York – Nasdaq: UP 0.2 per cent at 26,343.97 (close)

London – FTSE 100: UP 0.2 per cent at 10,466.26 (close)

Paris – CAC 40: UP 0.4 per cent at 8,115.75 (close)

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Frankfurt – DAX 30: UP 1.2 per cent at 24,888.56 (close)

AFP

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Dangote Refinery partner, MRS slashes fuel pump price

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Dangote Refinery backed MRS filling station has reduced the pump price of its premium motor spirit, PMS .

A market survey on Friday showed that the petrol retail outlet has adjusted its pump price to N1,241 down from N1,317 per litre – in Abuja and its environs.

This means that the filling station cut its petrol price by N76 per litre, or 5.77 per cent.

The development comes three days after Dangote Refinery reduced its petrol gantry price by N75 per litre after crude oil prices fell to below $80 per barrel.

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Meanwhile, Nigerian National Petroleum Company Limited, Ranoil, AA Rano, Empire Energy and other filling stations in the nation’s capital have failed to cut their petrol pump prices despite the drop in crude oil prices and Dangote Refinery’s gantry fuel price slash.

DAILY POST earlier reported that Nigerians are angry over the failure of several petroleum marketers to drop fuel prices.

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NDLEA, UNODC outline weeklong activities to mark 2026 world drug day(Photos)

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. We’re targeting criminal networks to effectively cut off their lifeblood, says Marwa, as UNODC reaffirms commitment to supporting Nigeria’s efforts

The National Drug Law Enforcement Agency (NDLEA) and the United Nations Office on Drugs and Crime (UNODC) have announced weeklong activities to commemorate the 2026 World Drug Day, even as the anti-narcotics agency vowed that it will continue to target the criminal networks with the aim of effectively cutting off their lifeblood.
This was announced at a joint press briefing by NDLEA and UNODC at the agency’s headquarters in Abuja on Friday 19th June 2026. In his address at the conference, Chairman/Chief Executive Officer of NDLEA, Brig Gen Mohamed Buba Marwa (rtd) noted that World Drug Day, observed globally on June 26, is a “vital occasion during which our collective efforts against the illicit drug menace are evaluated, refined, and given a definitive policy direction for the subsequent 12 months.”


Speaking on the theme for the 2026 World Drug Day: “The World Drug Problem: Persisting Issues, New Challenges, Innovative Responses”, Marwa said “this theme underscores the evolving dynamic of the global drug landscape. It acknowledges that while old battlegrounds remain, new synthetic threats, sophisticated trafficking networks, and digital illicit markets have emerged, demanding that we counter them with proactive, technology-driven, and highly innovative responses.”
According to Marwa who was represented at the briefing by the agency Secretary, Shadrach Haruna, “At the NDLEA, we have long recognized that old strategies cannot solve new problems. Under the continuous support of the Federal Government and our diverse stakeholders, we have heavily modernized our operations and balanced our enforcement capabilities with aggressive social advocacy. Our War Against Drug Abuse (WADA) initiative remains our primary vehicle for preventive action, and it has been refitted to address these new challenges by leveraging data, community intelligence, and innovative public enlightenment tools to protect our youth from falling victim to illicit substances.
“In strict alignment with this year’s profound theme, we are keeping alive our tradition of a week-long commemoration. To this end, the week officially kicks off today, Friday, June 19th, 2026, with this press conference. Later today, Friday, June 19th, we shall proceed to the National Mosque, Abuja, for a special Juma’at Service at 1:30 pm to seek divine guidance and commemorate this significant week.


“Tomorrow, Saturday, June 20th, our highly anticipated Walk Against Drugs—staged in collaboration with Baze University, Nile University, and the MTN Foundation (MTNF)—will take place. The take-off point will be the African University of Science and Technology, Galadimawa, starting at 8:00 am.

“On Sunday, June 21st, we will continue our spiritual intercession with a Thanksgiving Church Service at a designated worship center to commit the week’s activities into the hands of the Almighty. On Monday, June 22nd, at 10:00 am here at the NDLEA Conference Room, National Headquarters, we will host the final level of our national essay competition, themed: “Say No to Drug: Building a Healthy and Responsible Generation.” This intellectual contest highlights our focus on youth engagement and creative prevention.

“On Tuesday, June 23rd, we will observe NGO Day at the NDLEA Conference Room at 10:00 am. This day is dedicated to our civil society partners who remain indispensable in our grassroots sensitization efforts. On Wednesday, June 24th, beginning at 8:00 am, we will be having our Youth Out of School Programme. This is a targeted campaign focusing on high-risk environments within the FCT Area Councils, specifically reaching out to youths in major markets and motor parks with innovative, relatable anti-drug messaging. Thursday, June 25th, will be dedicated strictly to strategic planning, final reviews, and briefings in preparation for the grand finale.

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“Finally, the climax of the weeklong activities, the Grand Finale, will hold on Friday, June 26th, at the State House Conference Centre, Abuja, starting at 9:00 am. This event will gather top government functionaries, diplomatic communities, and international stakeholders to formally unveil new policy frameworks for tackling the modern facets of the drug crisis.”

While speaking on recent operational milestones by the agency, which he said directly mirror its readiness to confront persisting issues and new challenges, the NDLEA boss noted that “Our flagship WADA programme, launched five years ago on World Drug Day 2021, has matured into a formidable “Whole-of-Society Approach.” It has successfully bridged the gap between law enforcement and the citizenry, turning ordinary Nigerians into active stakeholders in the war against drug abuse.

“On the enforcement front, our “Offensive Action” against drug cartels, launched in January 2021, has maintained its relentless momentum. We have continued to dismantle complex syndicates, leading to the arrest and successful prosecution of major drug barons. Our legal department has achieved unprecedented conviction rates, fortified heavily by the Proceeds of Crime Act (POCA). We are not just arresting traffickers; we are liquidating their financial empires. Through the civil action in rem instrumentalities, assets reasonably suspected to be proceeds of drug crimes are aggressively targeted and forfeited to the Federal Government, effectively cutting off the lifeblood of these criminal networks.”
He expressed the profound gratitude of the Agency to President Bola Ahmed Tinubu for his unwavering political will and support, as well as to State Governments across the federation. “Our deep appreciation also goes to our international partners, most notably the UNODC, the US-Drug Enforcement Administration (DEA), the Bureau of International Narcotics and Law Enforcement Affairs (INL), the UK Home Office International Operations (HOIO), Border Force, and the National Crime Agency (NCA) of the United Kingdom, the French Police and the German BKA, among others. We also acknowledge the seamless synergy we enjoy with the Nigerian Armed Forces, Nigeria Customs Service, Nigeria Police Force, Nigeria Immigration Service, NAFDAC, NFIU, FRSC, and the NSCDC, among others. Most importantly, I thank you, our friends from the media. The strategic victories we record daily would mean very little without your consistency in educating the public”, he added.

In his remark, the UNODC Country Representative Cheikh Ousmane Toure who was represented by the Deputy Country Representative, Mr. Danielo Campisi, stated that the world drug problem is not static, but evolving. “Nigeria stands at a critical point where it must address long-standing challenges while adapting to new realities. As we reflect on this theme today, let us remember: No single institution can address these challenges alone. Progress depends on partnership, shared responsibility, and sustained action; the problem persists, but it is not insurmountable; the challenges are evolving, but so are our solutions, and our response must be united, informed, and forward-looking.
“As we commemorate World Drug Day, UNODC reaffirms its commitment to supporting Nigeria’s efforts through evidence, innovation, human-centred approaches, and international cooperation. Together, we can strengthen our collective response to the world drug problem – addressing persistent issues, responding to new challenges, and advancing solutions that protect people and communities.”

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DAY 8 of Projects Commissioning in the FCT

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President Tinubu will commission Collector CN2 Roads and Other Roads Within Katampe District Today

#FCTRenewedHope
#FCTProjectsCommissioning

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