Brent crude hits wartime high, soaring past $123, as U.S. military to reportedly brief Trump on action against Iran - CNBC

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Business - Crude oil prices hit four-year high as Iran war threatens to drag on - France 24.

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Oil surges above $126 as Britons face higher prices at the pump with Iran war set to drag on.

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Oil prices have surged to their highest level since 2022 amid fears that the United States is preparing potential military action against Iran.Brent crude briefly rose above $126 per barrel during early trading before easing to around $122 as European markets opened, marking the highest level since Russia's invasion of Ukraine triggered global energy market turmoil.Reports from Axios said US Central Command has drafted plans for "short and powerful" strikes aimed at breaking the current diplomatic impasse with Tehran.

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The proposed options are reported to include targeting Iranian infrastructure, while another plan under consideration involves taking control of parts of the Strait of Hormuz to restore commercial shipping.

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TRENDING Stories Videos Your Say Around one‑fifth of global energy supplies typically pass through the strait, making disruption a significant concern for markets.Yeow Hwee Chua said: "Oil traders have reacted quickly to the possibility of further military action in...

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Brent crude hits wartime high, soaring past $123, as U.S.

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military to reportedly brief Trump on action against Iran

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