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BBC News30.4.2026Business

Oil Prices Surge to 2022 Highs Amid Potential US-Iran Escalation

Brent crude hits $126 per barrel as reports emerge of new US military plans for potential action against Iran

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Oil prices have reached their highest levels since 2022 following reports that the US military is preparing new strike plans against Iran, raising concerns over global energy supply disruptions in the Strait of Hormuz.

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Oil Prices Surge to 2022 Highs Amid Potential US-Iran Escalation

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