Connect with us

News

Oil prices increase as Israel plans to attack Iran

Published

on

By Kayode Sanni-Arewa

Oil prices climbed early on Monday in the global commodities market over report that Israel plans major attack on Iran.

The geopolitical tensions in the Middle East has brought Iran into play with latest missile slam on Israel earlier in October.

Due to US government interest in energy, Israel has allayed fear of potential attack on Iranian oil facility, aiming at the country military infrastructure instead.

Advertisement

Brent crude climbed to $73.13 per barrel while the US benchmark West Texas Intermediate also rose by 0.5% to $69.09 per barrel.

According to Israeli state television KAN, an Israeli official whose name was not disclosed revealed that Prime Minister, Benjamin Netanyahu and Defense Minister, Yoav Gallant will decide when and how the attack will take place in a security cabinet later in the day.

Also, the US obtained leaked classified documents about Israel’s retaliation plans against Iran.

US President, Joe Biden, said Friday that he knows how and when Israel will carry out its attack on Iran as Tehran warns it will respond ‘decisively.’

Advertisement

According to Organization of Petroleum Exporting Countries’ (OPEC) monthly report, Iran increased its oil production by 21,000 barrels per day to 3.31 million barrels, which was the highest increase amid OPEC members in September.

The possibility of Israel attacking the country supported the upward price movement, feeding the supply concerns amid market players. In addition, analysts expect the contraction in the real estate sector and housing market in China, the world’s biggest oil importer, to lessen.

China announced a 25 basis point reduction for 1 and 5-year loan interest rates, which serve as the benchmark interest for corporate loans and real estate loans.

The interest rate decision aims to revive the real estate and credit markets against the contraction in the real estate sector and to ease the burden on individuals and businesses.

Advertisement

The decision is expected to increase optimism regarding future incentive measures in the country and support the recovery of oil demand in China.

Continue Reading
Advertisement
Click to comment

Leave a Reply

Your email address will not be published. Required fields are marked *

News

Work for Peace and Unity of Nigeria’, Obi tasks Ohaneaze president, Mbata

Published

on

By Kayode Sanni-Arewa

The leader of the opposition Labour Party and the 2023 Presidential flag bearer, Peter Obi, has admonished the newly elected leadership of Ohanaeze Ndigbo Worldwide led by Senator John Azuta Mbata to work towards peace and unity of the nation.

Writing on his X handle in a congratulatory message to the Executive, Obi urged the new Executive to leverage their position, which shows the people’s confidence in them to strengthen the Igbo family and unite the country.

“On behalf of my family and the Obedient movement, I congratulate the Newly Elected President General of Ohanaeze Ndigbo, Senator John Azuta-Mbata; the Deputy President General, Prince Okey Nwadinobi; the Secretary-General, Emeka Sibeudu, and other newly elected executive members, on their emergence as the leaders of the noble organization.

Advertisement

“Their emergence as the leaders of Ohaneze Ndigbo, the umbrella body that unites the Igbo people, underscores the level of confidence and hope the people have in their leadership ability and their commitment to the development of the region and the nation in general.

“I pray that they will leverage their new offices to continue to work for the peace and unity of our nation and contribute immeasurably to ideas that will drive development, peace, and progress among the people.

“May God give you all, the wisdom and strength to serve the people.
A New Nigeria remains Possible.

Advertisement
Continue Reading

News

Minor cabinet reshuffle: Delta gov redeploys Information Commissioner to Ministry of Special Duties

Published

on

In a minor cabinet reshuffle, the Delta State Governor, Rt. Hon. Sheriff Oborevwori, has redeployed Information Commissioner to Ministry of Special Duties.

As part of the changes, Dr. Ifeanyi Michael Osuoza, the Commissioner for Information, has been reassigned to the Ministry of Special Duties.

In the interim, Mr. Charles Ehiedu Aniagwu, the Commissioner for Works, Rural and Riverine Roads, will oversee the Ministry of Information.

Also, a reliable source within the inner circle of the government has also verified the same development.

Advertisement

There are mixed reactions among journalists regarding Governor Oborevwori’s directive for the Ministry of Information to be overseen by Mr. Charles Ehiedu Aniagwu.

This sentiment stems from lingering grievances over the fallout between journalists and the administration of former Governor Ifeanyi Okowa.

Journalists have expressed dissatisfaction with Okowa’s refusal to acknowledge their efforts during his eight-year tenure with a ‘parting gift.’

It is worth recalling that Okowa was accused of denying journalists of same gesture of Chief James Onanefe Ibori, fully implemented by Dr. Emmanuel Eweta Uduaghan, extended to media professionals, both government house press crew and those outside the Government House.

Advertisement
Continue Reading

News

Emirate tussle: Fire will consume anyone who causes chaos in Kano- Sanusi

Published

on

The Emir of Kano, Muhammadu Sanusi II, has warned that fire would engulf any one trying to cause chaos in Kano State.

This was as Sanusi said the battle over Kano Emirate belonged to God, hence residents should remain calm and resist any temptation that could cause unrest.

He made the remark in a viral video while reacting to the Appeal Court judgement.

The Abuja Division of the Appeal Court had nullified the order of the Federal High Court in Kano.

Advertisement

The Kano Federal High Court had nullified Sanusi’s appointment following an emirate tussle in Kano State.

The order nullifying Sanusi’s appointment was issued by Justice Abubakar Liman of the Kano Division of the Federal High Court on June 20, 2024.

But, the Appeal Court faulted the ruling of the Federal High Court.

Sanusi said: “As you all know, the Appeal Court has confirmed today that the Federal High Court has no jurisdiction over emirate issues. This judgment was expected, and those who initiated the case in court knew this all along.

Advertisement

“Even the judge who issued the initial order was aware of the limits of his jurisdiction. Those who influenced him to make that decision also knew the truth.

“However, for the past eight months, their aim has been to promote selfish interests and instigate unrest in this part of the country.

“Despite their efforts, our greatest achievement is that the state has remained peaceful. There has been no violence or disorder. We call on everyone to continue maintaining peace and unity.

“This battle is not ours but God’s. And God does not need anyone’s help. Let us keep praying for His guidance and intervention. May God protect us, and whoever seeks to ignite chaos in Kano, may that fire consume them instead.

Advertisement

To those who wish harm upon Kano or its peace, may they face the consequences of their own wishes.”

Continue Reading

Trending

Copyright © 2024 Naija Blitz News