As the Iran war crosses the first month with no sign of de-escalation, the conflict has further deepened the global economic shock, tightening energy markets and amplifying instability across regions already under strain.
Inside Iran, there were reports on Sunday of rolling power outages in Tehran and Kabaj, pointing to mounting pressure on critical infrastructure, while the government continues to warn the United States against any ground invasion as diplomatic channels, including engagements led by Pakistan, struggle to contain the crisis.
Besides, ActionAid Sunday urged the Nigerian government to introduce urgent measures to cushion consumers from rising fuel prices as global oil markets react to supply uncertainty tied to the conflict.
In reaction to the war, mass “No Kings” rallies against President Donald Trump have underscored escalating political backlash in the United States, reflecting how the war’s consequences are now spilling into domestic politics far beyond the Middle East.
While Trump is talking up negotiations to end the conflict that he started alongside Israel, even as thousands more American troops head to the Middle East with a possible ground operation looming, the US and Israel said the war has been an unmitigated success, a position disputed by many.
But despite the killing of Supreme Leader Ayatollah Ali Khamenei and echelons of his top officials while gutting its navy and missile defences, Iran has mounted a response that is already being felt around the world.
Tehran has used missiles and cheap drones to effectively blockade the Strait of Hormuz, a vital trade route through which 20 per cent of the world’s oil passed daily before the war, while attacking Gulf oil and gas facilities.
Oil Prices Climb After Iran Warns Against US Ground Invasion
Oil prices climbed Sunday after Tehran warned against a US ground invasion, despite President Donald Trump saying on Friday that negotiations would continue to end the war.
Brent crude, the global benchmark, rose 2.6 per cent to $115.50, while US crude rose nearly 3 per cent to $102.61, CNN reported.
Iran’s parliament speaker on Sunday said the country’s forces are “waiting” for American troops. The warning came after Trump on Friday said “talks are ongoing” and extended the deadline for his ultimatum calling on Iran to reopen the Strait of Hormuz.
The war has caused the largest oil disruption in history because of the strait’s closure, which 20 per cent of the world’s oil flows through. Strikes targeting oil and gas facilities have also triggered higher gas prices. Most parts of the world are paying for the effects of the war at the pump.
Those gas prices will take time to fall once the war ends, experts warn. It will depend heavily on reopening the Strait of Hormuz and repairing damages to surrounding infrastructure, such as Qatar’s Ras Laffan — the largest gas production facility in the world — which Iran struck in mid-March.
Stock futures also fell Sunday, with Dow futures down 0.53 per cent, or 241 points. S&P 500 futures fell 0.46 per cent, while Nasdaq futures declined 0.48 per cent .
ActionAid Wants FG to Mitigate Impact of Fuel Prices
ActionAid Nigeria has called on the federal government to urgently roll out emergency economic relief measures as the ongoing conflict involving Iran, Israel and the United States continues to disrupt global oil markets and worsen the economic hardship faced by Nigerians.
The organisation raised the alarm in a statement issued in Abuja on Sunday, warning that the crisis, which has persisted for more than a month, is already pushing millions of Nigerians deeper into poverty through rising fuel prices, transport fares and food costs.
According to the group, the absence of a clear and coordinated response from the Federal Government to cushion the effects of the global energy shock is deeply troubling.
While noting that global crude oil prices have surged from an average of about $75 to $85 per barrel before the escalation of the conflict to roughly $100 per barrel due to supply disruptions in the Middle East, the organisation said Nigeria should be benefiting from the price increase.
It explained that with Nigeria’s daily crude oil production currently averaging between 1.3 million and 1.5 million barrels per day, the country is earning significantly more revenue from oil exports, yet these gains have not translated into relief for citizens struggling with soaring fuel costs.
The organisation said petrol prices are currently selling between N1,200 and N1,400 per litre across many parts of the country, while diesel prices remain persistently high.
It noted that the impact is being felt across all sectors of the economy, with transport fares surging, food prices rising and the cost of essential goods and services climbing beyond the reach of many households.
Speaking on the situation, the Country Director of ActionAid Nigeria, Andrew Mamedu, said the hardship faced by Nigerians reflects both the global crisis and long-standing domestic policy failures.
“It is unacceptable that Nigerians continue to suffer the consequences of global oil price increases while the country fails to translate its oil wealth into protection for its people,” he said.
Mamedu added that other countries facing similar shocks have implemented proactive measures to shield their citizens.
He cited examples of governments in Asia introducing price stabilisation policies, public transport support schemes and financial assistance to households in order to mitigate the effects of rising energy costs.
He noted that countries such as Thailand have deployed mechanisms such as the Oil Fuel Fund to cap fuel prices, while Indonesia has used subsidy compensation and public funds to reduce the impact of global price increases on citizens.
According to him, Nigeria must demonstrate similar urgency by implementing strong social protection measures.
The organisation said rapid community engagements conducted across several states indicate that many households are already adopting distress coping strategies, including skipping meals, withdrawing children from school due to transportation costs and borrowing money to survive.
It also warned that small and medium-sized enterprises are scaling down operations or shutting down completely due to rising diesel and logistics costs, while informal workers are experiencing declining incomes.
To address the situation, ActionAid Nigeria urged the federal government, in collaboration with state and local authorities, to deploy a coordinated emergency response that includes targeted cash transfers to vulnerable households and informal businesses.
The organisation also called for the temporary reintroduction of fuel subsidies for petrol and diesel, financial support for public transport systems to curb fare increases and the suspension or reduction of taxes and port charges contributing to high fuel prices.
Iran Warns US Against Ground Invasion
Iran’s parliament speaker Mohammad-Bagher Ghalibaf has accused the US of planning a ground invasion as part of the next stage in the Iran war, and said such an intervention would be met with force.
Also on Sunday, Iran threatened to target American and Israeli universities in the Middle East as part of its war effort.
Meanwhile, ministers from Pakistan, Saudi Arabia, Turkey and Egypt met in Islamabad on Sunday in an attempt to come up with a plan to de-escalate the war. Pakistan has offered to host talks between the US and Iran “in coming days.”
On Saturday, another group got involved in the expanding conflict: Yemen’s Houthis. The Iran-backed Houthis launched missiles towards Israel, and there’s concern their involvement could threaten another vital global shipping lane in the Red Sea.
In a post on social media platform Telegram, Iranian parliament speaker Ghalibaf struck an aggressive tone, writing: “the enemy publicly signals negotiations while secretly planning a ground invasion. “Our forces are ready for any US ground troops, and our response is clear: We’ll never accept humiliation,” Ghalibaf said.
Ghalibaf was referring to news that the U.S.S. Tripoli, carrying 3,500 US marines and sailors, arrived in the region on Friday.
Power Outages Reported in Tehran, Karaj
On Sunday, a report noted that the damage to the tower was caused by shrapnel striking the facility, and that the authorities were working to restore power in the affected areas.
“A few minutes ago, following attacks by the American-Zionist enemy on electricity industry facilities in the Tehran and Alborz provinces, electricity has been cut off in some of these areas,” the Iranian Energy Ministry said in a statement.
Iran’s Deputy Energy Minister, Mustafa Rajabi Mashhadi, said that several power transmission stations have been installed and power will be restored to Tehran and Karaj in a few hours, according to a report by semi-official Tasnim News Agency.
On Sunday, the IDF announced that it had struck Iranian weapon manufacturing sites in Tehran overnight between Saturday and Sunday. Targets of the strike included a central site used by Iran’s Defense Ministry to manufacture “critical” components for ballistic missiles, one of only two such sites in Iran, said the IDF.
Additional targets included various weapon production and storage facilities, as well as a drone engine production facility and an air defense development facility.
Millions Turn Out for Protest Against Trump
Crowds of people protested at the weekend against the war in Iran and President Trump’s actions, in “No Kings” rallies across the US and in Europe. Minnesota took centre stage, in what organisers said were mass demonstrations involving millions of people.
US organisers had estimated that the first two rounds of No Kings rallies drew more than 5 million people in June and 7 million in October. On Saturday, they estimated that at least 8 million participants took part in more than 3,300 events worldwide.
Thousands of people stood shoulder-to-shoulder on the Minnesota Capitol lawn and surrounding streets in St. Paul. Some held upside down US flags, historically a sign of distress.
The event’s headliner was Bruce Springsteen, who performed “Streets of Minneapolis.” He wrote the song in response to the fatal shootings of Renee Good and Alex Pretti by federal agents and in tribute to the thousands of Minnesotans who took to the streets over the winter to protest the Trump administration’s aggressive immigration enforcement.
Before he launched into the song, Springsteen lamented Good and Pretti’s deaths but said people’s continued pushback against US Customs and Immigration Enforcement has given the rest of the country hope.
Emmanuel Addeh and Michael Olugbode
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