Oil prices hold near seven month highs as markets weigh Iran talks and trade policy

Global oil benchmarks remained near their highest levels in almost seven months on Tuesday as market participants weighed the upcoming resumption of U.S.-Iran nuclear talks (Geneva) against a backdrop of shifting trade policies. Brent crude futures and U.S. crude futures have been trading at levels not seen since late July or early August, driven by a combination of geopolitical tensions and supply-risk perceptions. The announcement of a third round of negotiations, scheduled for Thursday in Geneva, was made by Badr Albusaidi, the Foreign Minister of Oman OM.