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Oil jumps 7% to above $100 ahead of US blockade of Strait of Hormuz

U.S. Central Command said U.S. forces would begin implementing the blockade ​of all maritime traffic entering and exiting Iranian ports at 10 a.m. ET (1400 GMT) on Monday.

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Oil prices jumped above $100 a barrel on Monday as the U.S. Navy prepared to block ships ‌from reaching Iran via the Strait of Hormuz, a move that could restrict Iranian oil exports, after Washington and Tehran failed to reach a deal to end the war.

U.S. Central Command said U.S. forces would begin implementing the blockade of all maritime traffic entering and exiting Iranian ports at 10 a.m. ET (1400 GMT) on Monday.

Reuters reported that Brent crude futures rose $6.71, or 7.05%, to $101.91 a barrel by 0104 GMT after settling 0.75% lower on Friday.

U.S. West Texas Intermediate was at $104.16 a barrel, up $7.59, or 7.86%, following a 1.33% loss in the previous session.

“The market is now largely back to conditions before the ceasefire, except now the U.S. will ⁠block the remaining up to 2 million barrels per day Iranian linked flows through the Strait of Hormuz as well,” said Saul Kavonic, head of energy research at MST Marquee.

President Donald Trump said on Sunday the U.S. Navy would start blockading the Strait of Hormuz, raising the stakes after marathon talks with Iran failed to reach a deal to end the war, jeopardising a fragile two-week ceasefire.

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International

Nigeria’s Enang Presents Credentials to German President Steinmeier (Images)

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Senator Ambassador Ita Solomon Enang, LLD, OFR, has formally presented his Letters of Credence to the Federal President of Germany, His Excellency Frank-Walter Steinmeier, in Berlin.

The solemn ceremony, conducted in accordance with diplomatic tradition, included a welcome parade by the German military, the signing of the Accreditation Register at the Presidency, and the formal presentation of credentials. President Steinmeier subsequently received Ambassador Enang for bilateral discussions.

Ambassador Enang expressed deep gratitude to President Bola Ahmed Tinubu, GCFR, for the honour of his appointment as Nigeria’s Ambassador to Germany.

During the talks, President Steinmeier commended the excellent relations between Nigeria and Germany. He recalled state visits and meetings on the sidelines of multilateral forums, and noted the swift processing of Germany’s incoming Ambassador to Nigeria.

Discussions focused on strengthening economic ties, particularly in the power sector, including off-grid technology and Siemens projects; agriculture and food security; citizen diplomacy; and migration and consular matters. Emphasis was placed on opportunities for skilled Nigerians in medicine, technology, IT, artificial intelligence and other fields under a proposed formal Nigeria-Germany migration agreement.

The two sides also addressed Nigeria’s leadership role in ECOWAS and the importance of engaging Sahelian states that have left the regional body for improved security coordination. Other topics included attracting German automobile assembly plants to Nigeria to promote local manufacturing, technology transfer and job creation, rather than continuing imports of fully assembled vehicles.

They reviewed Germany’s role as guarantor of the Green Tree Agreement following the International Court of Justice ruling on the Nigeria-Cameroon land and maritime boundary, including issues related to Bakassi and population displacements. Interest from German firms in capturing flared gas in the Niger Delta for electricity generation, as well as Nigerian oil’s place in the German economy, was also discussed.

Ambassador Enang conveyed the Federal Government of Nigeria’s appreciation for the humanitarian aid donation announced by German Foreign Minister Johann Wadephul during a courtesy call on Nigeria’s Minister of Foreign Affairs, Ambassador Bianca Ojukwu, on 22 July 2026.

Both sides noted the strong personal relations between President Tinubu and President Steinmeier and discussed the value of further high-level state visits. The audience was attended by designated federal ministers and named members of the German Federal Government.

The meeting concluded with an exchange of memorabilia involving officials of the German Federal Foreign Office, the Nigerian Mission in Berlin and the visiting delegation. Ambassador Enang was accompanied by Deputy Head of Mission Ambassador Bashir, Head of Chancery H.E. Dr (Mrs) Chioma Haidara, his wife H.E. Dr (Mrs) Rosemary Ita Enang, his son Mr Charles Ita Enang and his daughter Engr Dr Roses Ita Enang.

As the ceremony closed, a detachment of the German military rendered honours while the Nigerian flag was simultaneously hoisted at the Presidency of the Federal Republic of Germany.

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Trump threatens Iran bridges, power plant in latest Hormuz attacks

Trump told reporters that he was “not finished” with a war that has already cost Washington $37.5 billion.

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US President Donald Trump threatened on Wednesday to bomb Iranian bridge or power plant each time Theran attack ship in the Strait of Hormuz.

The latest round of escalation began on July 18.

Trump told reporters that he was “not finished” with a war that has already cost Washington $37.5 billion.

Fighting over the strait led to the collapse of a preliminary deal between the United States and Iran, and Tehran has reimposed its blockade on the strategic conduit for oil and gas shipments, firing on vessels that seek to transit.

The blockade has rattled markets and sent oil prices climbing, adding to the pressure on Trump to find an off-ramp to a conflict that has hit Americans’ pocketbooks heading into closely-fought midterm elections.

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Zelensky sacks Ukraine’s top army commander after days of protests

Syrskyi was replaced by Mykhailo Drapatyi, 43, who is a popular, battle-hardened general.

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•Zelensky

Ukrainian President Volodymyr Zelensky has dismissed the country’s army commander-in-chief, Oleksandr Syrskyi.

It comes just days after the removal of popular Defence Minister Mykhailo Fedorov – a move that triggered street protests across the country.Initial rumours that the end of Fedorov’s tenure was related to a conflict between him and Syrskyi were soon confirmed.

Fedorov, 35, has been widely praised for energising the ministry and transforming the armed forces, as well as leading a drive against corruption.

Syrskyi, 60, is seen by many in Ukraine as a Soviet-school commander reluctant to implement radical changes in the army.

Syrskyi defended his record in a farewell address, writing on Telegram: “An army that was fighting a difficult defensive campaign two years ago is now on the offensive.””I am handing over to my successor an army that is not only holding the line but is advancing… I sincerely hope this offensive will continue.”

Syrskyi was replaced by Mykhailo Drapatyi, 43, who is a popular, battle-hardened general.

” I will work responsibly, with full focus, and with respect for the people who are defending our country today,” Drapatyi said on Facebook

BBC

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