Oil Prices Near Seven-Month Highs Ahead of US-Iran Nuclear Talks Amid Tensions

Oil prices rose near seven-month highs ahead of scheduled US-Iran nuclear talks in Geneva, as investors weighed the prospects of a deal amid heightened tensions. Brent crude traded around $71 per barrel and West Texas Intermediate near $66. US military deployments in the Middle East and concerns over potential disruptions in the Strait of Hormuz contributed to market caution. Iran's Foreign Minister indicated a deal was possible if diplomacy prevails, while US President Trump warned of serious consequences if negotiations fail.