US-Israel Strikes Iran Push Oil to 6-Month High, Impacting Nigerian Stocks

US-Israel strikes on Iran on February 28, 2026, triggered a 2% Brent crude surge to $73/barrel (6-month high) and WTI above $67/barrel. Geopolitical risk premium prices in supply disruption around Strait of Hormuz, a key oil chokepoint. Nigerian investors face sector-specific impacts: Oil & gas stocks (Seplat +39%, Aradel +36% YTD) benefit from sustained high prices, while downstream (Eterna, Conoil) and consumer goods face margin pressure. Banking sector benefits from FX stability but risks inflation-driven rate cuts. Market volatility likely if oil stays elevated, but sector rotation possible.

SOURCE: https://nairametrics.com/2026/03/01/us-israeli-iran-tension-what-it-means-for-nigerian-stocks/