Nigeria TV Info

Bonny Light Crude Hits $67 After Israeli Strike on Qatar

LAGOS — The price of Nigeria’s Bonny Light crude oil climbed to $67 per barrel, up from $65, in the wake of Israel’s surprise attack on Hamas targets in Qatar.

The sudden escalation in the Middle East rattled global energy markets, with Qatar — a leading oil and gas-producing nation and former OPEC member — at the center of the crisis. Reports of the Israeli strike fueled intense speculation, driving oil benchmarks higher.

Analysts say the development underscores the volatility of global crude markets, with Nigeria standing to benefit from the short-term price surge, even as geopolitical instability poses risks to long-term energy security.

Industry observers noted that while Nigeria’s revenue may receive a temporary boost, sustained conflict in the region could lead to broader disruptions in global supply chains and market uncertainty.