Oil rose to the highest price in more than 2 1/2 years as prospects of an imminent flood of crude exports from Iran and other major producers waned while the International Energy Agency warned of a deepening supply crunch. Futures in New York advanced 1.6% to close at $75.25 a barrel on Tuesday, the highest settlement since October 2018. Crude supplies are set to “tighten significantly” amid a deadlock among members of the OPEC+ alliance, the IEA said in a report. Meanwhile, a stalemate over whether to revive the Iranian nuclear deal has reduced the threat of a deluge of the nation’s crude onto global markets. “The supply-deficit story is reasserting as the primary driver,” said Ed Moya, senior market analyst at Oanda Corp. Oil prices have surged more than 50% this year as vaccination […]