NEWS
Oil Prices Jump 5%, Stocks Slide after Trump Says Iran Ceasefire Over
Oil prices soared and stock markets slid Wednesday after US President Donald Trump said the ceasefire with Iran was over, following renewed strikes in the Middle East.
The latest bout of fighting was sparked by Iranian attacks on ships in the vital Strait of Hormuz shipping route.
Trump said at a NATO summit in Turkey the ceasefire was “over” but left the door open to more talks.
International benchmark Brent North Sea crude jumped more than five percent to around $78 a barrel.
The main US contract, West Texas Intermediate, also rallied five percent.
In Europe, Paris and Frankfurt shed around two percent while London was down nearly 1.5 percent around midday.
“Geopolitical risks are rising” for markets, noted Kathleen Brooks, research director at trading group XTB.
The US launched extensive strikes on Iran this week following attacks on ships in the strait, triggering a wave of reprisals against American bases in the Gulf.
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Washington also revoked a temporary sanctions waiver for Iranian oil.
Brooks added that “for the Brent crude oil price to extend gains above $80 per barrel, we would need to see another US naval blockade of the Strait of Hormuz, which would stop Iran from selling its oil and cause a major escalation in tensions”.
Equities in Asia also suffered, with the geopolitical tensions coming on top of a retreat from the tech sector on concerns over the eye-watering sums being invested in AI.
Seoul’s Kospi — which has been Asia’s poster child for the tech rally — sank more than five percent and has lost more than 20 percent since hitting a record high last month.
Samsung took another hit following a rout Tuesday that came despite the firm forecasting a roughly 19-fold jump in second-quarter operating profit from a year earlier on the back of strong AI chip demand.
The company and rival SK hynix both tumbled around six percent.
“Investors have been spooked in recent weeks by fears of excessive spending in the AI world and rich valuations in parts of the tech space, causing widespread profit-taking,” said Dan Coatsworth, head of markets at AJ Bell.
There were losses also in Tokyo and Shanghai.
However, Hong Kong rose three percent as traders chased beaten-down Chinese tech stocks, with Alibaba piling on more than 12 percent, and JD.com and Tencent each up almost four percent.
The dollar gained against its peers as the prospect of another hit to Middle East oil supplies fuelled concerns that inflation could remain elevated for longer than feared, putting pressure on the Federal Reserve to hike interest rates.
Key figures around 1100 GMT
Brent North Sea Crude: UP 5.1 percent at $77.93 a barrel
West Texas Intermediate: UP 5.0 percent at $73.95 a barrel
London – FTSE 100: DOWN 1.4 percent at 10,516.16 points
Paris – CAC 40: DOWN 2.0 percent at 8,265.75
Frankfurt – DAX: DOWN 2.1 percent at 24,929.06
Seoul – Kospi: DOWN 5.4 percent at 7,246.79 (close)
Tokyo – Nikkei 225: DOWN 2.1 percent at 66,819.05 (close)
Hong Kong – Hang Seng Index: UP 3.0 percent at 24,199.46 (close)
Shanghai – Composite: DOWN 0.5 percent at 3,970.88 (close)
New York – Dow: DOWN 0.3 percent at 52,925.15 (close)
Euro/dollar: DOWN at $1.1406 from $1.1415
Pound/dollar: DOWN at $1.3344 from $1.3360
Dollar/yen: UP at 162.49 yen from 162.09 yen on Tuesday
Euro/pound: UP at 85.49 pence from 85.44 pence
AFP
NEWS
EndSARS Memorial: ‘Nigerians Still Deserve Answers’ – Atiku
Former Vice President and African Democratic Congress (ADC) presidential candidate, Atiku Abubakar, has said Nigerians still deserve answers six years after the October 20, 2020, EndSARS shooting at the Lekki Toll Gate in Lagos.
Atiku made this known in a statement on Tuesday marking the sixth anniversary of the incident, in which he called for accountability over the shooting and criticised the Federal Government’s handling of the unresolved questions surrounding the tragedy.
He questioned who gave the order for the operation against protesters, insisting that the country could not continue to commemorate the victims without addressing the circumstances surrounding the incident.
RELATED NEWS: EndSARS Memorial: ‘We Must Never Normalise Injustice’ – Peter Obi
Atiku also recalled President Bola Tinubu’s remarks in October 2020, when he questioned the circumstances surrounding the casualties recorded during the shooting.
Tinubu had asked: “How were they there? How long were they there? What kind of characters are they?”
According to Atiku, the remarks appeared to focus on questioning the victims rather than demanding answers from those responsible for the violence against peaceful protesters.
He said the anger surrounding the anniversary reflected the unresolved grief of affected families and the distrust of young Nigerians who had demanded accountability and a better future.
“The APC has governed Nigeria through these six years. It cannot keep asking Nigerians to remember the dead while refusing to confront the unanswered questions,” Atiku said.
The ADC presidential candidate also linked the unresolved questions surrounding the Lekki shooting to the economic hardship confronting Nigerians, particularly young people struggling with rising living costs.
Citing petrol prices of ₦1,405 per litre, Atiku said transportation costs were making it increasingly difficult for Nigerians to afford basic necessities, including food, rent, education and commuting to work.
He illustrated the situation with the account of a young woman who reportedly resigned from her job because her salary could no longer cover her transportation expenses.
According to Atiku, one of his aides shared the woman’s experience earlier on Tuesday.
The woman reportedly said: “The pay no longer covers transport. Everything in Nigeria just dey increase in price. Feels like I’m working for Bolt guys.”
Atiku described the experience as an example of the difficulties faced by employed Nigerians whose earnings could no longer adequately cover the cost of getting to work.
He argued that the economic situation was affecting not only unemployed Nigerians but also workers struggling to survive on salaries weakened by rising costs.
The former vice president also highlighted his Economic Recovery Plan, which he said was designed to make Nigeria more affordable.
The proposed measures include providing support tied to fuel refined in Nigeria, passing savings on to consumers, increasing local production to create jobs, protecting minimum-wage earners, supporting students and cutting government waste rather than imposing additional taxes.
Atiku maintained that young Nigerians deserved answers about the Lekki shooting, a government that protects human life and an economy in which employment could provide a path to a better standard of living.
He added that Nigerians were entitled to question the APC’s record on accountability and economic opportunities six years after the incident.
The EndSARS protests began in October 2020, with young Nigerians demanding an end to police brutality and reforms to policing in the country. The shooting at the Lekki Toll Gate on October 20 became one of the most prominent events associated with the protests.
NEWS
EndSARS Memorial: ‘We Must Never Normalise Injustice’ – Peter Obi
National Democratic Congress (NDC) presidential candidate, Peter Obi, has called on Nigerians never to normalise injustice as the country marks the sixth anniversary of the Lekki Toll Gate shootings during the #EndSARS protests.
Obi made the call in a statement posted on his X account on Tuesday, October 20, 2026, in which he reflected on the events of October 20, 2020, and renewed his call for a Nigeria where citizens’ rights are protected.
He expressed appreciation for Nigerian youths who participated in the protests, describing the anniversary as a painful reminder of the sacrifices made in the demand for a better country.
SEE ALSO: BREAKING: Activists Arrested For Commemorating #Endsars Released
According to him, peaceful #EndSARS protesters were met with gunfire at the Lekki Toll Gate on that fateful night, leaving people dead and others injured.
He noted that the incident raised questions about justice, accountability and respect for human life.
“We must never forget. We must never normalise injustice,” Obi said.
He also reaffirmed his belief that a New Nigeria is possible, describing it as a country where citizens are protected rather than brutalised, young people are heard rather than silenced, and government power is exercised responsibly and with respect for human rights.
The former Anambra State governor stressed that Nigeria must become a nation where no citizen is punished for demanding good governance and a better future.
As the country marks six years since the incident, Obi prayed for the repose of the souls of those who lost their lives and called for their sacrifices to strengthen efforts towards building a better nation.
“May the souls of the departed continue to rest in peace. May their sacrifice strengthen our resolve to build a Nigeria where this tragedy will never be repeated,” he stated.
He concluded by reiterating his belief in the possibility of a New Nigeria, insisting that the country must become one where every life matters.
NEWS
JUST IN: Ex-Delta Governor Emmanuel Uduaghan Is Dead
Former Delta State Governor, Dr Emmanuel Uduaghan, has reportedly died, according to sources said to be close to his family.
The sources confirmed the development on Monday, October 19, 2026, although details surrounding the circumstances of his death remained unclear as of the time of filing this report.
“Uduaghan is no more; he is dead,” one of the sources reportedly said.
SEE ALSO: Document reveals Akpoti-Uduaghan demanded N10b damages from husband before marriage, firm reacts
The reported death comes months after claims that the former governor had died circulated on social media before being dismissed by his media aide, Henry Unini.
In June, reports of Uduaghan’s alleged death spread across Facebook and WhatsApp, prompting Unini to publicly debunk the claims and assure the public that the former governor was alive.
“I can tell you for a fact that Dr. Emmanuel Uduaghan is alive,” Unini said at the time.
“Frankly, I don’t know where the writer got his information from. The death of someone is not something you take and write about casually,” he added.
Unini acknowledged at the time that Uduaghan had been experiencing health challenges but maintained that he was receiving medical attention.
“It is now common knowledge that Dr. Emmanuel Uduaghan has been sick, but he is receiving proper medical care,” the media aide said.
He also stated that the former governor was recuperating, assuring the public that there was no immediate cause for concern.
“There is no cause for alarm whatsoever,” Unini said.
The media aide thanked friends, well-wishers and residents of Delta State who contacted the family to verify the former governor’s condition. He also urged the public to avoid spreading unverified information.
“The rumour was uncalled for,” he said while addressing the earlier reports.
As of the time of filing this report, further details about the circumstances surrounding Uduaghan’s reported death had yet to emerge.





