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Iran Threatens Oil Blockade, Predicts $200 Per Barrel As Crisis Deepens.
Iran has announced that it will block “a single litre of oil” from passing through the Strait of Hormuz if it benefits the United States, Israel, or their allies, amid escalating tensions in the Middle East.....KINDLY READ THE FULL STORY HERE▶
The statement was made on Wednesday by Ebrahim Zolfaqari, spokesperson for Iran’s Khatam al-Anbiya Central Headquarters, who also warned that global crude oil prices could soar to $200 per barrel if the regional conflict intensifies.
The announcement came a day after U.S. President Donald Trump threatened Iran with “fire and fury” should it interfere with the flow of oil through the strategic waterway.
Zolfaqari stated that Tehran would prevent oil shipments from reaching the U.S., Israel, or their allies:
“Let us firmly reiterate that we will never allow even a single litre of oil to pass through the Strait of Hormuz for the benefit of the U.S., the Zionists, and their partners. Any vessel or shipment intended for America, the Zionist regime, or their hostile allies will be a legitimate target for us. Your strategy of hiding behind Iran’s neighbours, the Muslims of West Asia, and even the world has expired.”
He also warned that attempts by the U.S. and Israel to stabilise global oil prices would fail if the conflict spreads:
“With the expansion of war in the region, prepare for $200 per barrel. Oil prices depend on regional security, and you are the source of insecurity,” Zolfaqari said.
Oil Market Shaken by Middle East Tensions
For over a week, the global crude oil market has experienced significant volatility due to rising conflict in the region. Crude prices spiked past $100 per barrel on Monday, marking the highest level since July 2022, before easing to around $87 on Tuesday as markets reacted.
Analysts say the uncertainty surrounding the conflict has heightened fears of supply disruptions from the Gulf region.
Earlier, President Trump warned Tehran against halting oil shipments through the strait, threatening severe retaliation, saying:
“Death, fire, and fury will reign upon them if Iran attempts to halt the flow of oil through this vital waterway.”
The exchange of threats between the two nations has further escalated regional tensions.
Amid growing security risks, major container shipping companies suspended sailings through the Strait of Hormuz and the Suez Canal on March 2, citing safety concerns for vessels navigating these key routes.
The Strait of Hormuz, a narrow passage linking the Persian Gulf to the Gulf of Oman and the Arabian Sea, is one of the world’s most strategically important shipping routes. It serves as the primary sea channel for oil and gas exports from the Gulf region. Any disruption could have significant consequences for global energy supply and prices.
Former Vice President Atiku Abubakar has revealed that his push for an opposition coalition was initially rejected by members of the Peoples Democratic Party (PDP).....KINDLY READ THE FULL STORY HERE▶
Atiku made the disclosure during an interview on Arise Television on Wednesday, where he reflected on events following the PDP’s defeat in the 2023 presidential election. According to him, he warned party leaders after the election that the PDP could struggle politically without forming alliances with other opposition forces. “To be honest, I was one of the major initiators of this coalition. After the PDP lost the last election, I told the party clearly that I did not see a future for the PDP without a coalition,” he said. Atiku said his advice was rejected at the time, despite his conviction that Nigeria’s political history had shown the importance of alliances. “They disagreed with me then. I have studied Nigeria’s political transition over the years and saw how previous alliances worked, so it was not difficult for me to foresee this,” he stated. The former vice president added that his support for coalition politics was also influenced by his desire to encourage the emergence of younger leaders he believes are vital to Nigeria’s future. “I saw some of these younger politicians as the future leaders of this country, and I felt it was my duty to point that out,” he said. However, Atiku claimed the resistance he encountered within the party was driven more by personal feelings than by disagreement over the substance of his proposal. “They disagreed with me simply because they did not want to see my face, not because of what I was suggesting,” he said. Atiku added that recent political developments have now vindicated his position on the need for a broad opposition alliance ahead of future elections.
Former Vice President Atiku Abubakar has said the African Democratic Congress (ADC) will first pursue a consensus arrangement before considering a primary election for its 2027 presidential ticket.....KINDLY READ THE FULL STORY HERE▶
Atiku made this known during an interview on Arise Television on Wednesday while discussing the party’s leadership and strategy ahead of the next general election.
He said he is open to backing a consensus candidate if that becomes the party’s collective decision, stressing that such support should not be interpreted as stepping aside.
“It is not about stepping aside, but whether I am willing to support, and yes, I will,” Atiku said.
According to him, the ADC’s first priority is to build internal unity and reach an agreement among stakeholders before considering a competitive primary process.
“Our first option will be to work out a consensus. If that doesn’t happen, then of course we will explore other options. And yes, I will support whoever eventually emerges,” he stated.
Atiku also expressed confidence in the political experience within the party, saying he believes a consensus is achievable and may make a full-scale primary contest unnecessary.
“That remains our preferred path. We will go for primaries if consensus fails, but I honestly do not expect it to get to that stage because we are dealing with mature and experienced politicians,” he added.
His comments come amid growing political consultations and coalition talks as parties begin to position themselves ahead of the 2027 general elections.
Former Vice President Atiku Abubakar has said the opposition coalition under the African Democratic Congress (ADC) has significantly strengthened his chances of winning the 2027 presidential election.....KINDLY READ THE FULL STORY HERE▶
Atiku made the remarks during an interview on Arise Television’s Prime Time programme on Wednesday. Speaking on what makes his latest presidential bid different from previous attempts, Atiku said the ADC coalition brings together key political figures from across major parties, including the APC, PDP and Labour Party. He described the alliance as a broader and more strategic political arrangement ahead of the 2027 general elections. According to him, the coalition has created a stronger platform that improves his prospects. “Now, we have a broader coalition — a combination of APC, PDP and LP — which gives me a better chance of becoming president in 2027,” he said. Atiku also noted that the coalition reflects both experience and generational inclusion, which he said shows a clear succession plan. “You see people of my generation, and you see younger people coming behind us, so you can clearly see a succession pattern,” he added. Meanwhile, Atiku described former President Goodluck Jonathan as a decent but inexperienced leader. According to him, Jonathan’s lack of experience contributed to shortcomings in governance and played a role in his defeat in the 2015 presidential election. “I know Goodluck Jonathan very well. He is a decent young man, but he was also inexperienced, and that contributed to his failure in managing the affairs of the country,” Atiku said. He made the remarks while stressing the need for experienced and capable leadership in Nigeria.
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