Oil
$120 Oil Is Almost Here, and Trump Has Few Good Options
CEII brief
OilPrice.com reported on 23 Oct 2026: $120 Oil Is Almost Here, and Trump Has Few Good Options.
Read the full story on OilPrice.comBrent crude nears $120 as escalating Saudi-Houthi tensions fuel another weekly oil price rally, putting fresh pressure on Trump.
Context from CEII
Crude benchmarks move budgets, currencies and inflation in producer and importer countries alike. For economies such as Nigeria, where fuels dominate exports, production and refining decisions move the whole economy.
9.5% of world merchandise exports were fuels in 2025Original reporting © OilPrice.com. Headline and excerpt quoted with attribution; the full article is available on the publisher’s site. CEII’s context is the Centre’s own and does not represent the publisher.
