The price of oil has risen to its highest level since 2022 following reports Donald Trump is to be presented with a new set of military options against Iran.
Global oil prices jumped to a four-year high of more than $122 a barrel on Thursday – the highest since Russia launched its war on Ukraine.
US media outlet Axios reported that the Pentagon will brief the US president on options for renewing the conflict with Iran.
Reports in Washington also suggested the US was prepared for an "extended" blockade of the Strait of Hormuz.
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