Oil futures tumbled in the early hours of Thursday, reversing direction after reaching a four-year high on a report that President Donald Trump is considering escalating the war in Iran.

Axios reported that US Central Command has prepared a plan for a wave of "short and powerful" strikes on Iran.

Brent crude prices jumped sharply early Thursday. Meanwhile, Hegseth described lawmakers who criticize the war with Iran as “the biggest adversary.” Follow for live updates.

Oil prices extended gains on Thursday on concerns supply from the key Middle East producing region will remain bottled up for longer as talks to end ​the U.S.-Israeli war against Iran have deadlocked.

Brent crude futures for June delivery climbed to above $111 a barrel as the endpoint of the U.S.-Iran conflict remains unclear.

Mediators in Pakistan expect to receive a revised peace proposal from Iran on Friday, according to sources. Here’s what we covered.

Axios reported that US Central Command has prepared a plan for a wave of "short and powerful" strikes on Iran.

Global oil prices hit more than $126 a barrel on concerns that the U.S.-Iran war could worsen and lead ⁠to a protracted Middle East oil supply disruption that could hurt ​global economic growth.