Global News Today, 12 November 2026: Oil rebounds, Russia-Ukraine prisoner swap, DR Congo referendum law
Last updated: 12 November 2026 · By Naijatipsland Editorial Team · Editorial policy
Morning roundup · Thursday 12 November 2026 · By Ade Adeniyi, Founder and Editor
Good morning. Oil turned higher again after a steep slide, Russia and Ukraine agreed a large prisoner swap, and a referendum law in DR Congo has revived fears about term limits on the continent. We also look at the Ebola outbreak, Spain’s general strike and the turmoil at the world’s leading AI chipmaker, each with a note on why it matters to Nigerians at home and abroad.
Today at a glance
- Brent crude bounces back above $92 as Iran denies talks with Washington, despite a surge in OPEC+ output.
- Russia and Ukraine agree a large prisoner exchange in Abu Dhabi, but no breakthrough on territory.
- DR Congo’s Tshisekedi signs a referendum law critics link to a possible third term.
- Ebola: DR Congo passes 11,000 confirmed cases; Kenya discharges its last patient.
- Spain holds its first general strike in 14 years over housing costs.
- Nvidia shares fall about 9% after hours on reports its board may remove CEO Jensen Huang.
1. Oil rebounds as Iran denies talks with the US
What happened
Brent crude rose $1.27, about 1.4%, to settle at $92.76 a barrel on Wednesday, after touching a two-month low near $89 the day before. US crude (WTI) settled at $86.53. Prices climbed after Iran denied it was negotiating with Washington, cooling hopes of a quick end to the conflict that has disrupted shipping through the Strait of Hormuz. OPEC’s monthly report showed the producer group and its allies raised output by about 2.04 million barrels a day in October, led by Saudi Arabia, as disrupted volumes returned. The US Energy Information Administration expects Brent to stay near $100 for the rest of 2026 before easing towards $77 by late 2027. Even after Wednesday’s gain, Brent is roughly 21% lower than at the start of November.
Why it matters
Oil still drives most of Nigeria’s export earnings and dollar inflows. Prices around $90 support revenue and the naira, while any further fall would tighten government finances. Track the knock-on effect on the currency on our dollar to naira rate today page.
Source: Invezz; MLQ.ai; PR Newswire.
2. Russia and Ukraine agree a big prisoner swap, but stay far apart
What happened
Two days of US-mediated talks in Abu Dhabi, the first direct round between the two sides in nine months, ended on Wednesday with agreement in principle on a large exchange of prisoners of war. US envoy Jared Kushner said numbers would be finalised on Thursday, and a Russian official suggested the swap could happen within two to three weeks. Ukraine’s chief negotiator Rustem Umerov said significant differences remain, and President Zelenskyy repeated that Ukraine will not give up occupied territory for peace. Kushner and Steve Witkoff were due to meet President Putin in Moscow on Thursday, then brief Zelenskyy in Dublin. Russia’s delegation questioned giving European countries a bigger role.
Why it matters
The war has shaped global wheat, fertiliser and fuel prices that feed into Nigerian food inflation. Real progress towards peace would ease pressure on those import costs.
Source: AP; Kuwait Times (AFP); Al Arabiya.
3. DR Congo: referendum law stirs third-term fears
What happened
President Felix Tshisekedi signed a law on Monday, announced on state television overnight into Wednesday, setting out how constitutional changes, or even a new constitution, can be put to a referendum. Opposition parties say it could be used to remove the two-term limit before his second term ends in 2028. Tshisekedi has said he does not plan to seek a third term but would accept one if the people wanted it. No referendum date has been set. The move comes as the M23 armed group, now reportedly led by former president Joseph Kabila, threatens the government, and after opposition protests in June and September.
Why it matters
Term-limit fights have unsettled several African democracies. With Nigeria heading to its own polls, the DR Congo case is a reminder of why respect for constitutional timelines matters for stability and investor confidence across the region.
4. Ebola: DR Congo passes 11,000 cases, Kenya nears all-clear
What happened
DR Congo has now confirmed 11,042 Ebola cases and 5,387 deaths since the outbreak of the rare Bundibugyo strain was declared in May, with eight provinces affected. There is no approved vaccine or treatment for this strain. Kenya discharged its last patient on Wednesday, starting a 42-day countdown to being declared Ebola-free, and will require citizens arriving from DR Congo to quarantine for 21 days. Nigeria’s single imported case, confirmed on 20 October, was evacuated to Switzerland; the European Centre for Disease Prevention and Control reports that 34 of the 62 identified contacts in Nigeria had completed quarantine by 10 November.
Why it matters
Nigeria has kept transmission contained so far, but the outbreak is the most widespread ever seen in Africa. Travellers should follow NCDC screening guidance and report symptoms such as sudden fever after travel to affected areas.
Source: ECDC; Reuters via US News; AllAfrica.
5. Spain’s first general strike in 14 years targets housing costs
What happened
Unions UGT and CCOO said about four million workers joined Wednesday’s 24-hour strike, with 90% stoppages reported at ports and car plants; business groups said turnout was uneven. Average rents have nearly doubled in a decade, and the Bank of Spain estimates a shortfall of about 750,000 homes. Marches in Madrid and Barcelona were mostly peaceful, though police reported dozens of arrests after evening clashes, and unions accused police of a heavy-handed response. The strike comes ahead of a snap general election on 29 November called by Prime Minister Pedro Sánchez; the opposition Popular Party called it an election stunt.
Why it matters
Spain is home to a sizeable Nigerian community, and many feel the rent squeeze directly. Housing policy after the election will affect costs for students, workers and families there.
Source: NPR (AP); SBS (Reuters); France 24.
6. Nvidia shares slide on reports the board may remove its CEO
What happened
Nvidia shares fell about 8.6% in after-hours trading on Wednesday, to roughly $159, after the Wall Street Journal reported that the chipmaker’s board was preparing to remove chief executive Jensen Huang, and the New York Times reported allegations about a relationship with a senior employee. The board had already opened an investigation at the weekend into whether Huang was the target of a foreign intelligence effort. Huang has apologised for an extramarital affair but none of the newer allegations had been confirmed by Nvidia, which had not commented at the time of reporting. Nvidia is due to report quarterly results on 17 November.
Why it matters
Nvidia is a bellwether for global tech stocks. Nigerians investing abroad through US-stock apps or tech funds may see swings, and a shake-up could affect the pace of AI investment that is drawing Nigerian tech talent.
Source: CBS News; The Straits Times; MarketWatch.
What to watch next
- US envoys’ meetings with Putin in Moscow and Zelenskyy in Dublin on Thursday, and the final prisoner numbers.
- Official US crude inventory data, delayed to Thursday, and the OPEC+ meeting on 29 November.
- Any date for a DR Congo referendum and the opposition’s response.
- Nvidia’s board decision and its 17 November results.
- Spain’s snap election on 29 November.
Frequently asked questions
How do oil prices affect the naira?
Crude sales bring in most of Nigeria’s foreign exchange. Higher prices usually mean more dollars for the central bank to support the naira, while lower prices reduce that buffer.
Is there Ebola in Nigeria now?
Nigeria recorded one imported case in October, and the patient was evacuated abroad. Health authorities have been monitoring 62 contacts, and no wider spread has been reported.
When will the Russia-Ukraine prisoner exchange happen?
Numbers were due to be finalised on Thursday, and a Russian official said the swap could take place within two to three weeks.
This roundup summarises reporting by the outlets credited under each story, in our own words. Follow Naijatipsland Updates on WhatsApp for the next edition. Spotted an error? Tell us and we will correct it under our editorial policy.
