Oil prices surge as Iran recloses Strait of Hormuz amid US blockade and diplomatic tensions
via Punch Nigeria3 min read
Oil prices increased on Monday following Iran's decision to reclose the Strait of Hormuz, a key global oil and gas transit point, citing the United States' blockade of its ports. This action occurred just a day after the strait was reopened. Despite this, Asian equities saw gains due to ongoing hopes for a resolution to the seven-week crisis, even though Tehran stated it currently has no plans to attend peace talks. US President Donald Trump indicated that a deal was "very close," but Iran quickly countered, asserting that its enriched uranium stockpile would not be transferred. The US blockade of Iranian ports has been a major point of contention in negotiations. Iranian sources indicated that there are no current plans to participate in the next round of Iran-US talks, with the lifting of the US blockade cited as a precondition for negotiations. West Texas Intermediate and Brent crude contracts both saw significant jumps. The Revolutionary Guards warned that any vessel attempting to pass through the strait without permission would be considered cooperative with the enemy and targeted. Foreign ministry spokesman Esmaeil Baqaei called the blockade a "violation" of the ceasefire. Meanwhile, Asian markets including Tokyo, Hong Kong, and Shanghai rose, while European markets like London, Paris, and Frankfurt dropped. The dollar, a safe haven, advanced against its main peers.
Free daily or weekly digest of the most important stories from across 10 countries. No spam, unsubscribe any time.
This summary was AI-generated from a story originally published by Punch Nigeria.
Tottenham Hotspur has condemned racist abuse directed at defender Kevin Danso following their 2-2 Premier League draw with Brighton. Danso made an error in stoppage time, leading to Brighton's equalizer and keeping Spurs in the relegation zone. After the match, the 27-year-old was targeted with "vile, dehumanising racism" on social media. Tottenham stated on Sunday that the abuse has been reported to the police and relevant authorities, vowing to pursue strong action against those responsible. The club emphasized that performance on the pitch does not justify discrimination and affirmed their unconditional support for Danso. The incident occurred during the Premier League's "No Room For Racism" campaign weekend. Danso responded on Instagram, stating the abuse "doesn't define me" and would not distract him. The Premier League also condemned the abuse, warning of bans and potential legal prosecution for offenders. Anti-discrimination organization Kick It Out supported Danso, noting a rise in online abuse cases. This incident is part of a series of similar cases this season, prompting calls for stronger action against racism in football.
Iran's foreign ministry stated on Monday that the United States is not serious about diplomacy, citing alleged violations of a two-week ceasefire. Ministry spokesman Esmaeil Baqaei pointed to a US attack on an Iranian cargo ship, a US naval blockade on Iranian ports, and delays in implementing a ceasefire in Lebanon as "clear violations." Iran has been in conflict with Israel and the United States since February 28, following strikes that killed Supreme Leader Ayatollah Ali Khamenei. Despite a fragile ceasefire that began on April 8, a previous round of negotiations failed to yield a deal. US President Donald Trump announced that US negotiators would travel to Pakistan for further talks, but Baqaei indicated that Iran currently has no plans for the next round of negotiations. Key unresolved issues include Iran's enriched uranium stockpile and the status of the Strait of Hormuz. Baqaei clarified that transferring enriched uranium to the United States has never been discussed as an option.
The National Agency for Food and Drug Administration and Control NAFDAC has issued a public warning regarding the circulation of unregistered and suspected counterfeit Colgate toothpaste. The alert follows a complaint received by its Post-Marketing Surveillance Directorate concerning the distribution of these products in Kaduna State. An investigation by NAFDAC officials at an outlet selling the items led to the discovery of two suspected counterfeit products branded as “Coglaet ActivGel 100g” and “Coglaet Herbal 100g.” The shop owner stated the products were bought from a door-to-door sales representative, but no proof of purchase was provided. NAFDAC emphasized that these products have not met regulatory standards for registration and quality assurance, posing potential public health and safety risks. The agency has removed the items from circulation and is investigating to identify and track distributors. The affected products, “Coglaet Crema Dental Herbal 100g” and “Coglaet ActivGel 100g,” lack batch numbers and NAFDAC registration numbers. They are labeled as manufactured by Guangzhou YECAI Oral Cleaning Products Co., Ltd in China, with manufacturing dates in August 2025 and expiry dates in August 2029. NAFDAC has instructed its zonal directors and state coordinators to increase surveillance and remove counterfeit products. The agency advises distributors, retailers, and consumers to verify product authenticity before purchase and report suspected cases to NAFDAC via the
Russia's FSB security agency announced the arrest of a German woman, born in 1969, in Pyatigorsk, alleging she was involved in a Ukrainian-orchestrated plot to bomb a security services facility in the Stavropol region. The woman was reportedly found with an improvised explosive device in her backpack, which the FSB claims was intended to be detonated remotely, killing her. The blast was prevented by electronic jamming. The FSB stated that a citizen from a Central Asian country, born in 1997 and described as a "supporter of radical ideology," allegedly drew the German woman into the plot under orders from Ukraine. This individual was also arrested near the targeted site. Both face potential life imprisonment on terrorist charges. There has been no immediate response from Kyiv or Berlin regarding these allegations. Russian state media showed footage of the arrests and a controlled explosion of the backpack. Russia has previously accused Ukraine of collaborating with Islamist fundamentalists for terror attacks, including the 2024 Moscow concert hall massacre, an accusation Kyiv denies and for which IS claimed responsibility without mentioning Ukrainian involvement.