{"id":24155,"date":"2026-02-24T08:26:12","date_gmt":"2026-02-24T06:26:12","guid":{"rendered":"http:\/\/jhb-webdevelopers\/channelafrica\/news\/oil-rises-to-near-seven-month-highs-on-us-iran-tensions\/"},"modified":"2026-02-27T16:34:53","modified_gmt":"2026-02-27T14:34:53","slug":"oil-rises-to-near-seven-month-highs-on-us-iran-tensions","status":"publish","type":"news","link":"https:\/\/www.channelafrica.co.za\/channelafrica\/news\/oil-rises-to-near-seven-month-highs-on-us-iran-tensions\/","title":{"rendered":"Oil rises to near seven month highs on US, Iran tensions"},"content":{"rendered":"<div>Oil prices rose on Tuesday, nearing seven-month highs, with traders assessing risks to supply from any military escalation as another round of United States (US), Iran nuclear talks loomed.<\/div>\n<div><\/div>\n<div>Brent crude futures rose 48 cents, or 0.7%, to $71.97 a barrel, while US crude futures climbed 45 cents, or 0.7%, to $66.76 a barrel.<\/div>\n<div><\/div>\n<div>Brent is trading at its highest since July 31, while West Texas Intermediate is at its firmest since August 1.<\/div>\n<div><\/div>\n<div>&#8220;At this stage, geopolitics is clearly doing most of the heavy lifting for oil prices, with the current firmness largely driven by anticipation rather than actual supply loss,&#8221; said Phillip Nova Senior Market analyst Priyanka Sachdeva.<\/div>\n<div><\/div>\n<div>&#8220;The risk of possible military escalation in the Middle East is gaining traction, and thus, traders appear to hedge against worst case scenarios.&#8221;<\/div>\n<div><\/div>\n<div>Iran and the US will hold a third round of nuclear talks on Thursday in Geneva, Oman&#8217;s Foreign Minister Badr Albusaidi said on Sunday.<\/div>\n<div><\/div>\n<div>The US wants Iran to give up its nuclear programme, but Iran has adamantly refused, and denied it is trying to develop an atomic weapon.<\/div>\n<div><\/div>\n<div>&#8211;Reuters&#8211;<\/div>\n","protected":false},"featured_media":15127,"template":"","meta":{"_acf_changed":false,"_links_to":"","_links_to_target":""},"news-type":[44],"class_list":["post-24155","news","type-news","status-publish","has-post-thumbnail","hentry","news-type-finance","entry"],"acf":{"short_description":"","published_date":null,"news_description":"Oil prices rose on Tuesday","form_embed":"","author":"","image_caption":""},"_links":{"self":[{"href":"https:\/\/www.channelafrica.co.za\/channelafrica\/wp-json\/wp\/v2\/news\/24155","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.channelafrica.co.za\/channelafrica\/wp-json\/wp\/v2\/news"}],"about":[{"href":"https:\/\/www.channelafrica.co.za\/channelafrica\/wp-json\/wp\/v2\/types\/news"}],"version-history":[{"count":1,"href":"https:\/\/www.channelafrica.co.za\/channelafrica\/wp-json\/wp\/v2\/news\/24155\/revisions"}],"predecessor-version":[{"id":26922,"href":"https:\/\/www.channelafrica.co.za\/channelafrica\/wp-json\/wp\/v2\/news\/24155\/revisions\/26922"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.channelafrica.co.za\/channelafrica\/wp-json\/wp\/v2\/media\/15127"}],"wp:attachment":[{"href":"https:\/\/www.channelafrica.co.za\/channelafrica\/wp-json\/wp\/v2\/media?parent=24155"}],"wp:term":[{"taxonomy":"news-type","embeddable":true,"href":"https:\/\/www.channelafrica.co.za\/channelafrica\/wp-json\/wp\/v2\/news-type?post=24155"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}