Oil
Nigerian Bonny Light hits $115 a barrel as Strait of Hormuz attacks surge
CEII brief
Nairametrics reported on 24 Oct 2026: Nigerian Bonny Light hits $115 a barrel as Strait of Hormuz attacks surge.
Read the full story on NairametricsNigerian Bonny Light last traded at N115 a barrel while West Texas Intermediate settled at $103 a barrel on supply-side concerns.
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.
85.9% of Nigeria’s merchandise exports were fuels in 2025Countries in this story
Original reporting © Nairametrics. 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.
