Oil prices dip as US-Iran talks ease supply fears, Nigeria's Bonny Light above budget
Oil prices fell Friday as US-Iran nuclear talks extended, easing supply concerns ahead of OPEC+ output decisions. Brent crude dropped 5 cents to $70.70, WTI fell 1 cent to $65.20, with both heading for weekly declines. Nigeria's Bonny Light traded at $71/barrel, up 0.7% from Monday, exceeding the 2026 budget assumption of $64.85 despite the dip. The government's $10 billion licensing round and Dangote Refinery expansion could offset fiscal impacts from lower prices.
SOURCE: https://nairametrics.com/2026/02/27/oil-prices-dip-as-us-iran-extend-nuclear/