Mogadishu: Oil Near Seven-Month Highs Oil prices were hovering near seven-month highs today as the threat of military conflict between the US and Iran that could disrupt supply continues to worry investors even as talks between the parties are set for Thursday.

According to Oman News Agency, Brent futures were trading at $71.22 per barrel, up 45 cents, or 0.64%. WTI futures rose 0.64%, or 42 cents, to $66.05. The recent surge in prices comes as investors remain on edge over potential supply disruptions due to escalating tensions between the United States and Iran.

Brent prices reached their highest since 31 July 2025 on Friday, while WTI hit its highest since 4 August 2025 on Monday. The ongoing geopolitical situation has contributed significantly to the upward pressure on oil prices, with market participants closely monitoring developments in the scheduled talks between the US and Iran.