Nigeria Crude Premiums Ease From $30+ Peak as Global Oil Market Cools After Supply Shock - Oil & Gas
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By Héctor J. Zarzosa González *– In less than ten weeks, Brent has climbed from $67 to $118 per barrel—a 75% increase—after the de facto closure of the Strait of Ormuz, an artery through which 20% of the world’s oil passes. IEA has described it as the biggest supply shock in history. Commercial aviation is the most exposed sector. Jet fuel suffers two simultaneous impacts: disruption in the Gulf disrupts both the supply of refined kerosene and t…
Nigeria Crude Premiums Ease From $30+ Peak as Global Oil Market Cools After Supply Shock - Oil & Gas
https://naija247news.com/feed/ LONDON/SINGAPORE, April 29, 2026 (Naija247news) – Nigerian crude oil grades, alongside other Atlantic Basin barrels, are witnessing a sharp correction in spot premiums as the global oil market begins to stabilise after weeks of extreme volatility triggered by Middle East supply disruptions. Premiums for key Nigerian export grades including Bonny Light crude, Qua Iboe crude, and Forcados crude have retreated signifi…
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