00:01Oil prices have surged to their highest level since 2022 amid rising concerns over potential
00:06escalation in the Iran conflict. Brent crude briefly climbed above $126 a barrel after reports
00:13that US military officials have prepared plans for possible strikes aimed at breaking the current
00:19deadlock in talks with Tehran. Energy markets have also been affected by fears over distribution to
00:25shipping through the Strait of Hormuz. Prices later eased but remained sharply higher in volatile
00:31trading. Analysts say even the risk of further military action is enough to unsettle markets
00:37with warnings of knock-on effects for inflation and everyday costs.
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