Oil prices rise 2% on fresh US strikes on Iran; Brent crude at $96/bbl

US-Iran war: Oil prices climbed around 2% in early trade on Thursday after reports said the United States carried out fresh overnight strikes on an Iranian military facility, heightening geopolitical tensions despite ongoing negotiations between Washington and Tehran aimed at ending their three-month conflict.

Brent crude futures advanced $1.90, or 2.02%, to $96.19 per barrel, while the more actively traded August contract rose $1.64, or 1.78%, to $93.89 per barrel.