Brent crude fell more than $16 in eight trading days to $83.86 after President Trump revived peace talks with Iran, exposing Nigeria’s fiscal vulnerability.
Africa · Western
Key Facts
—Price drop. Brent crude fell more than $16 in eight trading sessions, retreating from around $100 to $83.86 per barrel.
—Trigger. President Donald Trump revived peace talks with Iran and called off a threatened large-scale military strike.
—Strait of Hormuz. The talks centre on reopening the world’s most critical oil chokepoint, through which 20% of globally traded crude passes.
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