US strikes Iran's Qeshm Island as Trump signals nuclear deal progress

The Wall Street Journal reports the US carried out airstrikes on Iran's Qeshm Island in the Strait of Hormuz Monday, part of a series of secret limited strikes in recent weeks. Iranian state media IRNA confirmed five rapid explosions and residents reported seeing two aircraft. The Pentagon declined comment, referring queries to US Central Command.

The strikes come as President Trump said a deal with Tehran "could happen" on the eve of US midterm elections. Oil prices plunged over 7% Monday on optimism the eight-month conflict— which has largely blocked the Strait of Hormuz since late February—may end. The waterway is a critical conduit for global oil shipments.

Separately, Israeli excavators demolished homes in Zawtar al-Sharqiya, southern Lebanon, on November 2.

For Nigeria, the Strait of Hormuz disruption directly impacts global oil prices, which feed into local fuel costs and government revenue. A sustained US-Iran de-escalation could ease price pressure, but the secret strike pattern suggests Washington is pressuring Tehran militarily while negotiating.

Will falling global oil prices translate to lower pump prices in Nigeria, or will the government maintain current pricing to shore up revenue?

SOURCE: https://www.channelstv.com/2026/11/03/us-strikes-irans-qeshm-island-report/