Oil Prices Hit Multi-Year High Following Iranian Elections

Crude oil prices clambered upward on Monday afternoon as the market feared that Iran nuclear talks may be stalled after hardliner Ebrahim Raisi won the Iranian presidential election.  A weaker dollar lent further support to climbing oil prices.  Over the last thirty days, WTI has risen roughly $7.50 per barrel, from just over $66. Brent crude, on the other hand, has risen roughly $6.50 from the $68.30 a month ago. The last time WTI spot prices were this high was back in October of 2018. Bank of America’s newest pricing outlook suggests…