Akintunde Oyedokun
Research Analyst
Oil prices rose over 1% on Thursday as uncertainty around U.S.–Iran peace talks kept supply disruption fears elevated.
Brent crude climbed to $96.61 per barrel, while WTI rose to $92.46.
Tensions around the Strait of Hormuz, a key global oil route, continue to limit flows, while tighter U.S. inventories and sanctions pressures added further support to prices.
U.S. Jobless Claims Dip, As Oil Shock, War Raise Labour Market Concerns
U.S. jobless claims fell to 207,000, beating expectations and showing a still-stable labor market despite uncertainty from the Iran war.
However, rising oil prices and inflation are weakening confidence and may soon slow hiring and spending. Continuing claims increased to 1.818 million, while youth unemployment remains high at 6.4%.
Manufacturing output slipped in March, as higher energy costs and policy uncertainty weigh on recovery. Economists warn the labor market remains steady for now but is increasingly fragile.
UK Economy Grows 0.5% In February, But Risks From Middle East Conflict Loom
Britain’s economy rose 0.5% in February, topping forecasts and marking its strongest growth in over a year.
Services and car production drove the gain, but economists warned higher energy prices from the Middle East conflict could weaken momentum.
The trade deficit widened to £5.63bn as imports climbed, while concerns over data adjustments were dismissed by the ONS.
Ivory Coast Confirms Deadly Bird Flu Outbreak
Ivory Coast has reported an outbreak of highly pathogenic H5N1 bird flu at a poultry farm in the eastern part of the country, according to the World Organisation for Animal Health.
The virus, which has severely impacted bird populations worldwide in recent years, led to the death of about 95,000 poultry in Koun-Fao district, near the Ghana border, based on official reports from Ivorian authorities.
Nigerian Airlines Threaten Shutdown As Jet Fuel Price Surges Past ₦3,000/Litre
Nigerian airlines may halt operations from April 20, 2026, as Jet A1 prices soar above ₦3,000 per litre.
The Airline Operators of Nigeria (AON) says the 300% price surge has made operations unsustainable, warning this could be a final notice if costs persist.
Fuel accounts for over 40% of airline costs, leaving operators under intense financial strain.
