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.
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Mohammed Idris, the Minister of Information and National Orientation, has congratulated Omoniyi Ibietan on his re-election as Secretary-General of the African Public Relations Association APRA. The Minister stated that Ibietan's re-election is a recognition of his professionalism, dedication, and contributions to the public relations profession across Africa. Ibietan was re-elected during the APRA General Assembly in Swakopmund, Namibia, where Arik Karani of Kenya became President and Professor Michele Mekeme of Cameroon was elected Vice-President. Idris, in a statement by his Special Assistant Media, Rabiu Ibrahim, noted that the election outcome reflects the confidence public relations professionals across Africa have in Ibietan's leadership and capacity to advance the association's vision. The Minister expressed optimism that Ibietan will continue to provide purposeful leadership and support APRA's efforts to promote ethical communication and Africa's digital transformation agenda. He also commended APRA for its commitment to strengthening the public relations profession and promoting ethical communication across Africa, adding that Nigeria looks forward to hosting the 37th APRA Annual Conference alongside the World Public Relations Forum in Abuja later this year. Founded in 1975, APRA is the umbrella body for public relations practitioners across Africa, promoting professional excellence, ethical communication, and collaboration among communication professionals.
The Nigerian community in Poland has welcomed Nigeria's Ambassador-designate to the Republic of Poland, Mrs. Chioma Ohakim, at a reception held in Warsaw. The community pledged full support for her mission and expressed optimism that her tenure will strengthen diplomatic, economic, and cultural relations between Nigeria and Poland. Adekunle Ayoola, Chairman of the APC Support Group and leader of the City Boy Movement in Poland, congratulated Ohakim, noting her public service record and leadership. He stated that the community is confident she will enhance cooperation in trade, investment, education, technology, and cultural exchanges, and foster unity among Nigerians in Poland. Dr. Emanuel Kalejaiye, Chairman of the Nigerian Diaspora Community in Poland, highlighted the strong bond between the embassy and the Nigerian community, which has existed for over four decades. He affirmed the diaspora's commitment to dialogue, cooperation, and partnership for Nigeria's development and the welfare of Nigerians in Poland, also thanking the Polish government for its hospitality. Ohakim, a lawyer, thanked the community for the warm reception and pledged to strengthen bilateral relations, calling for their support and cooperation. The event was attended by former Imo State Governor Ikedi Ohakim, leaders of Nigerian organizations in Poland, and members of the Nigerian diaspora community.
BreakingAt least 50 Malian soldiers were killed and 24 taken prisoner in an attack by Tuareg separatists and jihadists on Saturday as they departed the northern town of Anefis. The attack targeted an army convoy and was claimed by the Tuareg separatist FLA and the Al-Qaeda-affiliated Group for the Support of Islam and Muslims JNIM. A local elected official, close to the ruling junta, described it as the deadliest attack on the Malian army in years. An army source indicated that some soldiers were executed and an investigation is underway into tactical failures. Russian paramilitaries, who had been supporting the army, had already reached their destination in Gao and did not suffer any casualties. The Malian army acknowledged the ambush by "terrorist armed groups" but did not provide casualty figures at the time. Mali has been under military rule since coups in 2020 and 2021, with the junta facing challenges in restoring security amidst ongoing unrest.