Israel-Iran conflict escalates with attacks on oil facilities, raising global and Nigerian economic concerns
Israel and Iran engaged in intense reciprocal attacks for a third day, including strikes targeting Iran’s nuclear and military infrastructure and vital oil facilities, escalating their conflict significantly.
Iran retaliated with multiple missile waves on Israel, killing 13 and wounding 380, while Israeli attacks reportedly killed at least 128 in Iran, including children.
The strikes on Iran’s key oil and gas sites, such as the South Pars gas field and refineries near Tehran, raised fears of global oil market disruption and possible closure of the strategic Strait of Hormuz.
Nigerian experts warn the conflict could lead to oil price volatility affecting Nigeria’s economy, disrupt bilateral trade, impact Nigerian nationals in the region, and reduce religious tourism to Israel and Iran.
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