Petrol May Rise to N1,000/Litre as Israel-Iran Conflict Thr£atens Oil Supply — Analysts Warn. Nigeria’s economy may face fresh headwinds as the ongoing conflict between Israel and Iran thr£atens global oil supply, analysts at Comercio Partners have warned. In their May Macro Report titled “Nigeria’s Inflation Slows in May, But Trouble May Be Ahead”, the firm noted that the geopolitical crisis could lead to supply shocks and a spike in global crude prices. Despite being an oil-producing nation, Nigeria is unlikely to benefit from such price surges. Since fuel subsidies were removed and prices are now tied to global benchmarks, any increase in oil prices could deepen economic strain. The report explains that even with the Dangote Refinery operational, the country remains exposed, as rising crude prices directly raise production and distribution costs. Petrol prices, currently hovering around N825 per litre, could jump to N1,000 if oil prices continue climbing, the analysts projected.