Oil: Oil prices were hovering near seven-month highs on Wednesday 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 Qatar News Agency, Brent futures were trading at $71.22 per barrel, marking an increase of 45 cents, or 0.64%. Similarly, WTI futures saw a rise of 0.64%, or 42 cents, reaching $66.05. This uptick in prices reflects investor concerns over potential supply disruptions due to escalating tensions in the region.

Brent prices recently touched their highest levels since July 31, while WTI futures reached their peak since August 4. These developments underscore the market's sensitivity to geopolitical factors and the potential impact on global oil supplies.