Finance · South Africa
Oil Prices Fall Ahead of US-Iran Nuclear Talks Resuming
Moneyweb · 2026/02/23
Summary
Oil prices fell slightly, with Brent crude dropping 0.6% to $71.31 a barrel. This change comes ahead of the planned resumption of US-Iran nuclear talks later this week. These discussions could affect oil supply and prices globally, as Iran is a major oil producer. Investors and businesses are closely watching these developments because any agreement or disagreement could change oil market stability and costs.
OnABudget takeaway: Lower oil prices might mean cheaper fuel in South Africa soon, helping consumers save on transport costs. Small businesses reliant on fuel could also benefit from reduced expenses.