the Federal Capital Territory were empty, as motorists who stopped to buy fuel were informed that the product was not available. As a result of the development, queues formed at some filling stations on the Kubwa expressway, which dispensed the product. Motorists, who engaged in panic buying when it was discovered that some filling stations were not dispensing fuel, claimed that there are indications of an imminent hike in the fuel pump price.
78 or 3.4 per cent, to $85.57 a barrel. Both benchmarks rose by more than $4 a barrel earlier in the session, according to Reuters. The Isreali-Palestinian conflict in Gaza is shaping up to affect the global economy, just like the invasion of Ukraine by Russia. Following Russia’s invasion of Ukraine in February 2022, oil prices soared, hitting more than $120 a barrel in June 2023.