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Crude Oil Prices Hit $68 Per Barrel, Highest Since September 2025
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News Mirror
Spread the love12 / 100 Powered by Rank Math SEO SEO ScoreGlobal crude oil prices climbed sharply on Thursday, rising to their highest level since September 2025, amid mounting geopolitical tensions in the Middle East and fears of potential supply disruptions.
Brent crude, the international oil benchmark, gained 2.24 percent to trade at $68.88 per barrel as of 12:40 WAT, while United States West Texas Intermediate (WTI) rose by 1.9 percent to $64.41 per barrel.
Iran currently produces about 3.2 million barrels of crude oil per day.
The rise in crude prices places global oil levels above Nigeria’s 2026 budget benchmark of $64.85 per barrel.
Higher oil prices could offer fiscal relief to oil-producing countries such as Nigeria, although analysts caution that sustained geopolitical instability could also heighten global economic uncertainty.