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
FCT Police Warn Motorists Against One-Way Driving, Reject Calls From VIPs
The Federal Capital Territory (FCT) Police Command has warned motorists against driving against traffic, popularly known as one-way, cautioning that influential connections or calls from senior police officers and government officials will not shield offenders from prosecution.
The Command said the practice, particularly around road construction sites, diversion points and restricted routes, poses serious risks to lives and property.
SEE ALSO: Ogun Police Win Public Safety Award as Ojajuni Emerges NUJ Golden Jubilee Ambassador
In a press statement issued on Monday, November 9, the FCT Police Public Relations Officer, SP Josephine Adeh, said the Command was concerned about the increasing disregard for traffic regulations by motorists who deliberately drive against traffic, ignore road signs and bypass designated diversions to avoid congestion.
Adeh stressed that no individual, regardless of status, position or connections, would be exempted from the consequences of violating traffic regulations.
She disclosed that the Commissioner of Police, CP Ahmed Muhammad Sanusi, had directed the Command’s Motor Traffic Department (MOTOPOL) and all Divisional Traffic Officers (DTOs) to collaborate with the Federal Road Safety Corps (FRSC) and other relevant agencies to intensify enforcement operations.
According to the statement, the directive includes the arrest and immediate prosecution of motorists caught driving against traffic or disobeying lawful traffic instructions.
The Commissioner also warned police officers involved in the enforcement exercise against exploiting the operation to extort motorists, stressing that any officer found engaging in such misconduct would face disciplinary action in line with existing police rules and regulations.
The Command urged motorists to exercise patience, obey traffic signs and follow instructions from authorised traffic officers, noting that saving a few minutes through reckless driving was not worth the risk of losing lives or damaging property.
It also called on residents to remain security-conscious and report suspicious persons or activities to the nearest police station.
The Command provided the following emergency contact numbers for security-related reports: 08032003913 and 08061581938.
NEWS
FCT Police Chief Inspects Worship Centres, Commends Residents for Peaceful Conduct
The Commissioner of Police, Federal Capital Territory (FCT) Command, CP Ahmed Muhammad Sanusi, has inspected security deployments at churches across the territory, urging officers to maintain professionalism and vigilance during religious activities.
The inspection was disclosed in a statement issued on Sunday by the FCT Police Public Relations Officer, SP Josephine Adeh.
Sanusi conducted the inspection on November 8, 2026, to assess the operational readiness of personnel deployed to worship centres and evaluate security arrangements for residents and worshippers.
SEE ALSO: October 1 Protests: FCT Police Call For Increased Vigilance Among Residents
The exercise followed a similar inspection of mosques across the FCT on Friday, November 6, as the Command sustained efforts to strengthen security around religious centres.
During the visits, the police commissioner charged officers to remain professional and responsive in the discharge of their duties.
He also commended residents for their peaceful and orderly conduct following mosque and church services, noting that public cooperation remained essential to maintaining security and public order across the territory.
The commissioner urged residents to continue cooperating with the police and other law enforcement agencies, remain security-conscious and promptly report suspicious persons, movements or activities to the nearest police station.
He further encouraged residents to utilise the Command’s emergency lines, 08032003913 and 08061581938, to report security concerns.
Adeh said the Command’s Public Relations Office remained open and accessible to members of the public for enquiries, complaints, information and other security-related matters.
The FCT Police Command reiterated its commitment to protecting residents and worshippers and maintaining security across the Federal Capital Territory.
NEWS
2027: Shettima Arrives in Uyo for APC Presidential Campaign Rally
Vice President Kashim Shettima has arrived in Uyo, the Akwa Ibom State capital, for the All Progressives Congress (APC) presidential campaign rally ahead of the 2027 general elections.
The development was disclosed on Friday by Stanley Nkwocha, Senior Special Assistant to the President on Media and Communications in the Office of the Vice President.
Akwa Ibom occupies a strategic position in President Bola Ahmed Tinubu’s Renewed Hope Agenda, with major federal investments expected to strengthen infrastructure and economic activities across the state.
SEE ALSO: 2027: Shettima Arrives in Lafia to Rally Support for Tinubu’s Re-election
One of the major projects is the Lagos–Calabar Coastal Highway, which has an approximately 82.8-kilometre stretch passing through Akwa Ibom.
The project, according to the statement, “promises improved connectivity, expanded trade, greater investment and new economic opportunities for communities across the region.”
Beyond infrastructure, the administration’s interventions in education, agriculture, healthcare, youth empowerment and social protection are also designed to improve livelihoods and broaden economic participation.
The Nigerian Education Loan Fund (NELFund) is among the initiatives highlighted, complementing Governor Umo Eno’s investments in roads, aviation, tourism and human capital development.
The statement noted that the Uyo rally provides “another opportunity to strengthen the APC’s growing political presence in the South-South and make the case for continuity in 2027.”





