Brent crude briefly surged above $126 a barrel, the highest since 2022. Axios reports that US Central Command has prepared plans for ‘short and powerful’ strikes on Iran as peace talks stall and the Strait of Hormuz remains effectively closed.
Brent crude surges past $126 per barrel to a four-year high as US-Iran tensions escalate; Pentagon estimates Iran war cost at $25 billion.
US Defense Secretary Pete Hegseth testified before Congress for the first time since the Iran War began, facing sharp questioning from both parties — highlighting deep political divisions over military action.
CNN exclusively reports that the US military is developing operational plans to target Iran’s Strait of Hormuz defensive installations if ceasefire negotiations fail.
According to an Axios exclusive, senior US military commanders will brief President Trump on new military options against Iran on Thursday, sending oil prices higher.
International oil prices surged to their highest level since 2022 after President Trump warned the naval blockade against Iran could last months, as the US seeks international coalition to reopen the Strait of Hormuz.
Iran’s Supreme Leader Ayatollah Khamenei issued a hardline statement declaring that Americans have no place in the Persian Gulf and that a ’new phase’ is emerging in the Gulf region, signaling Iran’s refusal to concede on the Strait of Hormuz navigation issue.
Brent crude oil futures broke through $120 per barrel after the US announced an extension of its naval blockade of Iran, with fears of a prolonged conflict driving energy prices sharply higher.
Brent crude oil breaks above $125 per barrel, reaching the highest level since 2022. US military commanders to brief Trump on new Iran military options Thursday as global stocks decline broadly.
Brent crude briefly hits $119 per barrel as reports emerge of US plans to extend the blockade on Iranian ports.