Brent crude dips below $76, hitting lowest point since eve of U.S.-Iran tensions

Brent crude oil prices fell below $76 per barrel on Thursday, marking their lowest level since the day before the United States and Iran escalated military hostilities. The drop signals continued pressure on global oil markets amid weak demand and rising supply concerns.

Traders are watching for further moves from OPEC+ as the cartel weighs output adjustments. Analysts say the slide reflects broader economic uncertainty and a shift in investor sentiment away from riskier assets.

The decline comes after months of volatility tied to geopolitical events and slowing growth in key economies like China. For Nigerian crude producers, the price drop could mean tighter margins and reduced government revenue from oil exports.