Oil prices hit seven-month highs as tensions rise before US-Iran talks

Oil prices have surged to a seven-month high due to escalating tensions between the US and Iran ahead of nuclear talks scheduled for this week in Geneva. The price increase reflects market concerns about potential supply disruptions stemming from possible military escalation in the Middle East. Both the US and Iran have engaged in displays of military strength, with the US bolstering its assets in the region, including positioning two aircraft carriers and partially evacuating its embassy in Beirut. Negotiations aim to address concerns about Iran's nuclear program, although Iran denies seeking atomic weapons. The market anticipates the outcome of these talks, with potential for further price fluctuations depending on the results.

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