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Finally, oil prices crash to $72 pre-war level
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Finally oil prices dropped to $72 per barrel on Thursday from about $120 per barrel, their lowest level since the US-Iran conflict began in February.
Brent crude futures for August delivery fell $1.06, or 1.44%, to $72.68 a barrel by 0639 GMT, while U.S. West Texas Intermediate lost 76 cents, or 1.08%, to $69.58 a barrel.
According to Oilprice.com, crude oil had fallen from $76.75 per barrel on Tuesday to $73.50 on Wednesday, after surging during the conflict as tensions threatened shipping through the Strait of Hormuz.
Rising Middle Eastern supply, together with Iran set to boost sales after a reprieve from U.S. sanctions, drove down prices of physical crude oil cargoes around the world.
Traders grew optimistic that the US-Iran agreement would help keep the strategic waterway open, alongside reports of a slight increase in shipping traffic.
An initial accord last week to end the U.S.-Israeli war with Iran, which began on February 28, has allowed the resumption of traffic through the strait.
The accord set up 60 days of negotiations to tackle tougher issues, such as Iran’s nuclear programme. Wright said oil would continue to flow through the strait even if the deal did not hold, and that Iran would not be able to close it again.
Oman opened temporary routes on Wednesday to ease tanker departures from the strait, with the International Maritime Organization and Omani authorities coordinating movements.
According to CNN, traders are still monitoring whether traffic continues to flow smoothly through the strait and whether tensions remain contained across the Middle East.
On Tuesday, President of the United States, Donald Trump, said a record 19 million barrels of oil flowed out of the Strait of Hormuz on Monday. According to Trump, oil prices are tumbling as a result of the oil flow through Hormuz.
“19 million barrels of oil flowed out of the Hormuz Strait yesterday, an all-time record. Oil prices are tumbling down, and the world is a much safer place,” Trump said in a post on his social media handles.
News
Immigration nabs two with N34m allegedly for kidnap ransom
The Nigeria Immigration Service (NIS) has intercepted two persons in Adamawa State with ₦34 million in cash, with the suspects allegedly linked to a kidnapping syndicate.
The suspects were intercepted with the cash during an operation in the state.
The Comptroller of Immigration Service, Sani Sule-Jega, disclosed this at a media briefing in Yola, the Adamawa State capital.
According to him, preliminary investigations showed that the suspects claimed the money was intended to pay ransom for their abducted brother.
In a separate operation, the Adamawa State Command of the NIS also intercepted 17 irregular migrants at Rumde Baruw in Yola North Local Government Area of the state.
The undocumented migrants were intercepted at a private three-bedroom residence during an operation by officers of the command.
Sule-Jega said preliminary profiling showed that 13 of the migrants were Cameroonian nationals, comprising eight males and five females, while the remaining four were Chadian nationals, all males.
The Comptroller noted a shift in the accommodation pattern of undocumented migrants, particularly their increasing use of private and unregistered apartments instead of conventional lodging facilities such as hotels.
He said the service was intensifying surveillance and intelligence-led operations to identify and address emerging patterns of irregular migration in the state.
Sule-Jega reiterated the command’s commitment to safeguarding Nigeria’s territorial integrity, improving migration management and strengthening border security.
He urged members of the public to remain vigilant and provide credible information that could assist security agencies in maintaining peace and security across the state.
The suspects and recovered cash have been taken into custody for further investigation and necessary action in accordance with established procedures and applicable laws.
The Comptroller General of Immigration has directed that the suspects and exhibits be handed over to the Nigeria Police Force for further investigation.
News
Sad! Kano social media commentator Ibrahim Shagamu killed in his apartment
A popular Kano social media political commentator, Ibrahim Khalil Dan Shagamu, has been reportedly killed in his apartment in Kano State.
Dan Shagamu, who operated under the brand Dan-shagamu International, was known for his social media videos and commentary on political, religious and community issues.
Amnesty International Nigeria confirmed his killing in a statement posted on X on Wednesday, saying his body was found in a pool of blood at his home.
“Amnesty International strongly condemns the killing of a social media political commentator Ibrahim Khalil Dan Shagamu whose body was found today in a pool of blood at his home in Kano,” the organisation said.
“He was brutally slaughtered after being overpowered by his killers.”
Details surrounding the circumstances of the killing were still unclear as of Wednesday.Amnesty International called on the Nigerian authorities to investigate the killing and ensure that those responsible are brought to justice.
“The Nigerian authorities must investigate this incident and ensure that those suspected of responsibility are brought to justice,” it said, while tagging the Nigeria Police Force.
The rights organisation also expressed concern over what it described as increasing politically related threats and intimidation ahead of the elections.
“As the elections approach, we continue to receive disturbing reports of politically related threats to life and intimidation,” Amnesty said.
News of Dan Shagamu’s death has sparked an outpouring of grief among his followers and residents, with many taking to social media to express shock and offer prayers for his soul.
Reports circulating on social media said Dan Shagamu was killed in a gruesome manner, with some describing the attack as “yankan rago”, a Hausa expression referring to throat-slitting.
News
Akpabio Petitions DSS Over Viral ‘Anti-North’ Statement, Demands Probe
Senate President Godswill Akpabio has petitioned the Department of State Services (DSS) to investigate a viral social media statement allegedly attributed to him in which he purportedly warned Northerners that they would “suffer the most” if President Bola Tinubu loses the 2027 election.
The statement, circulated on Facebook and other digital platforms alongside Akpabio’s photograph and official designation, has sparked controversy, prompting the Senate President to formally deny making the remark.
In a petition signed by his Chief of Staff, Chinedu Akubueze, Akpabio described the publication as “manifestly false, inflammatory and dangerously divisive,” urging the DSS to investigate its origin and distribution.
The viral graphic attributes the following statement to Akpabio: “Northerners, you will be the ones to suffer the most, if you allow Tinubu to lose the election.”
Akpabio, however, said there is no credible evidence linking him to the statement.
According to the petition, no identifiable date, venue, speech, interview, audio or video recording, official statement or credible media report has been produced to authenticate the alleged quotation.
The Senate President alleged that the graphic was deliberately fabricated and presented as an authentic statement with the aim of misleading the public, inflaming regional sentiments and portraying him as hostile to Nigerians from the North.
Akpabio also drew the DSS’s attention to several individuals allegedly identified through a preliminary review of publicly accessible Facebook records as among the early amplifiers of the disputed material.
The petition named Abdullai Musa, who allegedly shared the graphic in a Facebook group known as “Sheik Muhammad bin Uthman Group 24,” and Uzoma Chilaka, whose Facebook post allegedly reproduced the graphic alongside commentary attributed to Boniface Uzoma Chilaka and Engineer Ibrahim Umar Ammar.
It further referenced a verified Facebook account belonging to Ibrahim Umar Ammar, which allegedly later reproduced the graphic and substantially similar commentary.
Akpabio’s office, however, stressed that the individuals mentioned in the petition should not be presumed guilty, describing them only as “material persons of interest” whose activities could assist investigators in tracing the origin and circulation of the disputed publication.
The Senate President is asking the DSS to investigate the publication records, devices, communications and provenance of the graphic in accordance with Nigerian law.
The petition comes amid heightened political activity ahead of the 2027 general elections and growing concerns over the spread of inflammatory, misleading and fabricated political content on social media.
The statement was issued by Jackson Udom, Special Assistant to the President of the Senate on Media.
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