Oil prices rose about 3% on Friday, February 27, 2026, as traders remained on alert for potential supply disruptions after the United States and Iran extended nuclear talks.
Brent crude futures advanced by $2.09, or around 3%, to $72.84 a barrel by 1422 GMT, while U.S. West Texas Intermediate crude was up $2.33, or around 3.6%, at $67.54.
The Brent and WTI benchmarks were trading at their highest since July and August respectively and poised to register weekly gains of 1.6% and 1.7%.
An oil analyst at brokerage PVM, Tamas Varga, said: “Uncertainty prevails, fear is pushing prices higher today.
“It is completely driven by the outcome of the Iranian nuclear talks and possible military action the U.S. might take against Iran.”
N25bn fraud: Court jails Orient Petroleum MD, two others 14 years
The United States and Iran held indirect talks in Geneva on Thursday after U.S. President Donald Trump ordered a military buildup in the region.
Oil prices gained more than a dollar a barrel during the talks on media reports indicating that discussions had stalled over U.S. insistence on zero enrichment of uranium by Iran.
However, prices eased after the Omani mediator said the two sides had made progress in the talks.
The Presidency has criticised former Vice President and African Democratic Congress (ADC) presidential candidate, Atiku…
Former Vice President and African Democratic Congress (ADC) presidential candidate, Atiku Abubakar, has accused the…
A 500-level law student of the University of Abuja, Amra Salihu, has won the 9th…
United Bank for Africa (UBA) Plc has emerged as Nigeria's Best Bank for Retail and…
TikTok has removed more than 4.8 million videos in Nigeria during the first quarter of…
The Nigerian Army has declared one of its personnel, Private Mohammed Yusuf Amutu, wanted over…
This website uses cookies.