Oil Hits Four-Year High on Report US Mulls Iran Military Options
Brent oil rallied to a four-year high after Axios reported that US President Donald Trump will receive a briefing on new military options for action in Iran, signaling the potential for fresh escalation in the Middle East.
The global benchmark surged as much as 7.1% to surpass $126 a barrel — the highest since the aftermath of Russia’s invasion of Ukraine in 2022 — before paring gains to trade near $122. The head of US Central Command Admiral Brad Cooper will brief Trump on Thursday, signaling a resumption of combat operations are seriously under consideration, Axios said, citing two unnamed people.
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