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EBC notes Brent's repricing reflects a premium for transit reliability as shippers reassess Hormuz risks, indicating whether it fades or impacts energy costs.
Nigeria faces macro risks with rising oil prices and a strong USD. Despite a rate cut, high inflation persists, and oil's benefit to the naira is delayed.
EBC Financial Group notes that avoiding the Suez is lengthening voyages and raising freight and insurance costs, fueling inflation in import-heavy economies.