Brent June futures jumped 6.8% to $126.0 per barrel, reaching a four‑year high—the highest since March 2022.
WTI June rose 2.7% to $109.81 per barrel and July to $102.84, while Brent July settled at $114.19 per barrel.
Prices surged after reports that U.S. President Donald Trump is being briefed on additional military options against Iran, including attacks and a Hormuz reopening operation.
UAE announced its exit from OPEC, hinting at future production increases, though near‑term output remains constrained by the Iran conflict.