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Nigeria's Oando Capitalizes as Shippers Flee Gulf Crude

Nigerian oil producer Oando Energy is gaining market share as customers redirect purchases away from Persian Gulf suppliers amid regional instability, Chief Executive Wale Tinubu said. The shift reflects broader disruptions to energy supply chains following conflict in Iran, prompting major carriers and energy firms to reassess operations. A.P. Moller-Maersk, the world's No. 2 container carrier, said elevated fuel costs will be passed to customers over the coming quarters. Chevron Corp. has flagged concerns about vessel transit through the Strait of Hormuz, a critical chokepoint for global crude flows. The geopolitical turbulence is also forcing central banks to tighten policy; South Africa's Reserve Bank is expected to raise rates at consecutive meetings to combat inflation stemming from energy supply shocks. Industrial suppliers are meanwhile seeing demand surge for defensive infrastructure across the Middle East.