Brent crude oil soared more than 7 per cent after a report said the US military would brief President Donald Trump on potential military action against Iran as talks to reopen the Strait of Hormuz stall, reports Reuters.
The contract rose as much as 7.1pc to $126.41 per barrel in Asian trade, while West Texas Intermediate climbed 3.4pc to $110.31. Both later pared the gains.
