US Considers Massive Iran Attack as Oil Prices Surge Past $100 Barrel

President Donald Trump told Axios he is weighing a massive attack on Iran that would surpass previous strikes and said a decision is imminent. He noted Israel would join within two minutes if asked, but added the US does not need allies. The comments came as Brent crude oil topped $100 per barrel, with prices expected to rise further. Shortly after, the US carried out its 13th straight night of strikes on Iran, lasting over two hours; Iranian state media reported explosions in the Strait of Hormuz, near Qeshm and Bandar Abbas, as well as in north‑western regions and Tehran. Trump’s remarks follow an earlier warning of major military punishment for Iran and the Houthis after Iran‑backed Yemeni fighters struck two Saudi oil tankers in the Red Sea. UN Secretary‑General António Guterres warned the Security Council that the Middle East is on the brink of the unimaginable, with crises feeding into one another.

For Nigeria, a major oil exporter, climbing oil prices could boost export earnings but also push up domestic fuel costs and inflation. Heightened Gulf tensions risk disrupting global oil supplies, affecting price volatility and government revenue forecasts.

Given the prospect of sustained oil prices above $100, will you adjust your household budget for higher fuel and transport costs, or consider ways to hedge against fuel price swings in your personal or business finances?

SOURCE: https://dailypost.ng/2026/07/24/war-bigger-than-ever-were-set-trump-on-massive-attack-on-iran/