Oil price hits highest since 2022 after report Trump to be briefed on new Iran options

Oil prices have jumped to their highest since 2022 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 to try 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 at one point, the highest since Russia's full-scale invasion of Ukraine.

Energy prices have risen this week as peace talks appear to have stalled, with the key Strait of Hormuz waterway still effectively closed.

After reaching $126.31 a barrel at one point in Asian trade, the price of Brent crude fell back to around $121 in European trade.