Oil Prices Hit 7-Month High on U.S.-Iran Standoff

Oil prices were close to a seven-month high early on Tuesday amid speculation about potential U.S. strikes on Iran as a last-ditch round of talks approaches with what analysts see minimal chances of success. After rising in Asian trade, the two major crude oil benchmarks were near parity on the morning ET on Tuesday, but still hovering near seven-month highs as traders assess the chances of a new U.S. military campaign in Iran. The U.S. benchmark, WTI Crude, was up 0.26% to trade at $66.48 per barrel as of 7:46 a.m. ET. The international…