**FirstFT: Oil Prices Surge as Tensions Rise in Middle East** Good morning, Nigeria. Here's a roundup of the latest global news to get you started. The price of oil has jumped significantly following a reported attack on a liquefied natural gas (LNG) facility in Qatar by Iran. This development has heightened tensions in the Middle East, a region that is crucial to Nigeria's energy needs. The attack, which occurred at the Al-Shaheen site, has raised concerns about the stability of global energy supplies. The incident is part of an escalating conflict between Iran and its Gulf neighbors, including Qatar. The Al-Shaheen site is a significant LNG facility that exports gas to countries around the world, including Nigeria. The attack has sent shockwaves through the global energy market, causing oil prices to surge. Meanwhile, the Strait of Hormuz has become a focal point of the conflict. This strategic waterway connects the Persian Gulf to the Gulf of Oman and is a critical shipping route for oil exports. The US has announced plans to increase naval escorts for ships passing through the strait, in an effort to protect them from potential Iranian attacks. The tension in the Middle East has also had implications for European businesses. The European private credit market, which provides financing for companies, has seen a significant increase in activity. This is partly due to the uncertainty surrounding global trade and the need for companies to access liquidity in uncertain times. For Nigeria, the developments in the Middle East are a reminder of the country's reliance on imported oil. The attack on the Qatari LNG facility highlights the risks associated with global energy trade and the importance of diversifying Nigeria's energy mix. As the situation in the Middle East continues to unfold, the impact on global energy markets and trade will be closely watched. The Nigerian government may need to consider its own energy strategy in light of these developments. For now, the price of oil remains a critical factor in Nigeria's economic fortunes. That's all for today's FirstFT. We hope you found this summary informative and helpful. If you have any feedback or suggestions, please don't hesitate to reach out.