$100 Per Barrel: Buhari Smiles To The Bank As Pentagon Moves More Fighter Jets To Eastern Europe

<h4>&dollar;100 Per Barrel<&sol;h4>&NewLine;<p><strong><a href&equals;"https&colon;&sol;&sol;openlife&period;ng&sol;">OpenLife Nigeria<&sol;a><&sol;strong> reports that as the Pentagon moves up to eight F-35 fighter jets and a slew of other warplanes to Eastern Europe&comma; the Baltics and Poland to shore up support for NATO allies following the beginning of Russia’s invasion of Ukraine&comma; Nigeria and other major oil producing countries are currently smiling to the bank over the astronomical rise of oil price in the international market&period;<br &sol;>&NewLine;The Pentagon is the headquarters building of the United States Department of Defence&comma; constructed on an accelerated schedule during <a href&equals;"https&colon;&sol;&sol;www&period;vanguardngr&period;com&sol;">World War II<&sol;a>&period;<br &sol;>&NewLine;As the moment&comma; the price of crude oil &lpar;Brent&rpar; has hit the roof Oil at &dollar;100 per barrel in the international market&comma; due mainly to the ongoing Ukraine crisis&period;<br &sol;>&NewLine;The price of oil had been predicted to rise to &dollar;100 per barrel because of a sustainable increase in demand after the Coronavirus pandemic lockdown&comma; but it did not&period;<br &sol;>&NewLine;However&comma; a few minutes ago&comma; the price of Brent&comma; usually utilised to benchmark other prices&comma; rose to &dollar;103&period;33 per barrel&comma; from &dollar;96 per barrel&comma; in the global market&period;<br &sol;>&NewLine;Nevertheless&comma; there were indications that the prices of other crudes&comma; including Nigeria’s Bonny Light&comma; currently hovering at &dollar;96&period;60 per barrel&comma; will continue to rise&period;<br &sol;>&NewLine;Earlier&comma; President Muhammadu Buhari signed N17&period;13 trillion 2022 appropriation bill into law with oil benchmark pegged at &dollar;62 per barrel and daily oil production at 1&period;88 million barrels &period;<&sol;p>&NewLine;