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

Traders appear to be hedging against worst-case scenario of a conflict between the two nations, analyst saysBusiness live – latest updatesOil prices have reached seven-month highs, as traders reacted to heightened tensions between the US and Iran ahead of nuclear talks this week.US crude futures rose to $67.28 a barrel on Monday, while Brent crude touched its highest level since 31 July at $72.50 a barrel. Prices fell back late in the session, but were up again on Tuesday morning, approaching Monday’s highs. Continue reading...