Oil held near $72 a barrel as inconclusive nuclear talks between world powers and Iran — which has elected a new hardline president — allayed prospects for a swift revival of the Islamic Republic’s crude exports. Futures in New York rose 0.5% after increasing for a fourth week. Diplomats adjourned a sixth round of meetings with significant gaps remaining to mend the accord, the third time since talks began in April that negotiators have missed self-imposed deadlines to rejuvenate the agreement. A revived deal would likely lead to the easing of U.S. sanctions and higher crude flows. The election of conservative cleric Ebrahim Raisi as Iran’s president may complicate future talks. Raisi is subject to U.S. sanctions and Tehran insists they must be removed as part of an agreement to revive the pact. The failure to clinch an agreement puts additional pressure on other members of the OPEC+ coalition, […]