Oil prices jumped on Thursday in Asia after a report that the US military is set to brief President Donald Trump on new plans for potential action in the Iran war.
US Central Command has prepared a plan for a wave of "short and powerful" strikes on Iran in a moved aimed to break the deadlock in negotiations with Tehran, news site Axios reported. The BBC has contacted US Central Command and the White House for comment.
Brent crude rose by almost 7% to more than $126 (£94) a barrel, the highest level since Russia's full-scale invasion of Ukraine in 2022.
Energy prices have risen this week as peace talks appeared to have stalled, with the key Strait of Hormuz waterway remaining effectively closed.
The Axios report cited anonymous sources, saying the proposed wave of strikes would be likely to include infrastructure targets.
