IranThreatens Hormuz Blockade, Spiking Oil Prices
Iran's leader called for blocking the Strait of Hormuz, spiking oil prices to $100 and threatening global shipping. The UN's maritime body urged practical measures to protect 20,000 stranded seafarers and ships in the Persian Gulf. While resolutions remain non-binding, the crisis could impact Nigeria's fuel subsidies and Naira value due to oil price volatility.