Korede Abdullah 
LAGOS, Nigeria – Global oil markets reel as joint United States–Israel strikes on Iran stoke fears of supply disruption, prompting warnings that Nigerians may soon pay more for petrol.
Brent crude, which closes at $72.87 per barrel on Friday, is expected to spike sharply when trading resumes, with analysts projecting a surge toward $80 and potentially $100 if tensions escalate. Market anxiety centres on the Strait of Hormuz, through which nearly 20 percent of global oil and gas flows daily.
Energy analysts warn that any prolonged disruption could push crude prices as high as $150 per barrel. The strikes reportedly occur near Iran’s nuclear-linked sites and close to Kharg Island, a key export hub handling millions of barrels daily.
For Nigeria, economists describe the shock as a “double-edged sword.” Higher prices could boost export earnings and foreign reserves but may also fuel domestic inflation due to dependence on imported refined fuel.
Economist Dr Ahmed Tosin Yusuf says, “Higher crude prices automatically raise landing costs for petrol and diesel. Nigerians should expect upward pressure on pump prices unless local refining offsets imports.”
He adds that fuel price increases quickly ripple through food, transport and logistics. “Once fuel rises, the multiplier effect spreads across the economy,” Yusuf warns.
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Mirian Gom 
Koko Maxwella 
Edino Chubiyo Cornelius 
Oluwatobi Adu