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Commodities

Brent Crude Surges Past $107 as Iran Rejects Truce Proposal

Guavy AI Editorial Team
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Nigeria's depot fuel market is facing fresh uncertainty as Brent crude prices rebounded to $107.20 per barrel on Monday, September 28.

The increase followed a brief decline in depot prices between September 21 and 25, when Brent had dipped below $100 due to hopes of diplomatic progress between the US and Iran.

According to data from Petroleumprice.ng, the average Premium Motor Spirit (PMS) price across monitored Lagos depots fell by N23.50 per litre during this period.

The jump in crude prices could put pressure on Nigerian fuel depot owners to raise petrol and diesel prices again.

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