World oil prices rallied on Tuesday, once again approaching $100 a barrel, while global stock markets mostly declined, according to IOL. The movements were attributed to a flare-up in the Middle East war, which heightened investor concerns over energy supplies and regional stability. The report indicated that the renewed escalation in the conflict drove crude prices higher and weighed on equities across most major markets during the trading session.

Global stock markets fell after the benchmark Brent crude oil price rose above $100 a barrel, according to Al Jazeera. The surge in oil prices unsettled investors and heightened concerns about mounting inflation pressures around the world. Rising energy costs are seen as a key driver of inflation, and the breach of the $100 mark amplified worries about its potential impact on economies and financial markets globally.

Nigeria is set for a significant oil revenue windfall as escalating hostilities between the United States and Iran push crude prices above $100 per barrel, according to Vanguard. However, the country also faces renewed pressure on domestic fuel prices, inflation and operating costs. Latest market data showed the Organisation of Petroleum Exporting Countries Basket, which includes Nigeria's crude grades, trading above the $100 mark, highlighting both the fiscal opportunities and economic risks for Africa's largest oil producer.

Global oil prices have stabilized around $75 as markets shift from concerns about potential supply shortages to worries about oversupply. Analysts caution that geopolitical risks may continue to keep oil prices elevated, particularly in light of ongoing developments related to a peace deal with Iran.

World shares and U.S. futures declined on Tuesday as escalating conflict in the Middle East pushed oil prices higher, according to the Associated Press. The downturn followed a wave of Houthi attacks on oil facilities and utilities in Saudi Arabia's southern region. Trading floors in Seoul reflected the broader global slide, with South Korean indexes and major stocks such as SK Hynix and Samsung Electronics affected.

Oil prices approached $100 a barrel, with traders and analysts warning of a renewed supply crunch, according to ThisDay Live. The surge is attributed to hostilities between the United States and Iran, which have exacerbated concerns over global oil supply. The report, filed by Emmanuel Addeh in Abuja, highlights growing anxiety in energy markets about potential disruptions, though the feed provides no further details on production figures, market reactions, or official responses from either country.