Fuel Price Fluctuations Linked to Middle East Tensions

The pump price of fuel in Nigeria has been fluctuating due to volatility in the international crude oil market, according to Chinedu Okoronkwo, an oil and gas expert.

Okoronkwo attributed the fluctuations to speculation arising from the ongoing geopolitical conflict and tensions in the Middle East.

The current market price for Brent Crude oil is $96.28 per barrel, driven by the American-Iranian confrontation.

Okoronkwo said that traders are dealing on speculations, responding to market sentiments and expectations triggered by statements from both sides of the conflict.