Oil hit a 32-month high as the rollout of coronavirus vaccines boosted demand expectations for Europe and the U.S., and confidence faded over a quick return of Iranian crude supply. Futures rose 0.9% in New York, building on a run of three weekly gains. Iran’s foreign ministry said Monday there was “ very little time left ” for world powers to resolve outstanding differences to revive a 2015 nuclear deal, even though an agreement was in place to remove sanctions on the country’s energy sector. Iran goes to presidential elections this week. There were expectations a deal to lift Iranian oil sanctions would be in place ahead of the vote, said Giovanni Staunovo, a commodity analyst at UBS Group AG. “That seems not to be the case anymore.” Oil has surged in recent weeks as road traffic in the U.S. and Europe increase with more people vaccinated against Covid-19. […]