The oil price oscillated on Wednesday near their highest levels in seven months. The threat of military conflict between United States and Iran, likely to disrupt supplies, continue to worry investors despite talks between the two parties being held on Thursday.

The price of Brent was $71.22 per barrel, up 45 cents, or 0.64%, at 1.40 am GMT.

WTI futures rose by 0.64%, or 42 cents, to reach $66.05.

The price of Brent reached its highest on Friday Level since July 31, while that of WTI reached its highest on Monday high level since August 4, and both contracts have remained at levels close to these while the United States has deployed forces military forces in the Middle East to force Iran to negotiate the end of its nuclear and ballistic missile programs.