Oil prices rose in Asia, as the US military is set to brief Trump on new plans of action in the Iran war. 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.
As per media reports, US Central Command has prepared a plan for a wave of “short and powerful” strikes on Iran aimed at breaking the deadlock in negotiations with Tehran. The BBC has contacted US Central Command and the White House for comment. Energy prices have risen this week as peace talks appeared to have stalled, with the key Strait of Hormuz waterway remaining effectively closed.
US-traded West Texas Intermediate crude oil also rose, up by 2.3% at around $109 a barrel. The current Brent futures contract for June delivery is due to expire on Thursday. The more active July contract was up by about 2% at around $113 in morning trade in Asia.
