Oil prices dropped near $100 per barrel as Saudi Arabia increased exports via the Strait of Hormuz and hopes for diplomatic progress in the Iran war emerged. Brent crude fell for a fourth session, settling 3.4 per cent lower, while the October West Texas Intermediate contract dropped about 4.5 per cent. This development may ease petrol price pressures in Nigeria, where high fuel costs have exacerbated the cost of living.
Related Articles
Don't miss out on breaking stories and in-depth articles.