Oil prices have reached their highest level since 2022 as Brent crude hit $126 per barrel after media reports said the American military has briefed President Donald Trump about the possibility of launching "short but strong" strikes against Iran. Due to the war, including the blockage of the strategically important Strait of Hormuz, supplies of energy products have been adversely affected, causing UK gas prices to go up. Although stocks in Asia declined because of concerns about inflation, Europe proved its resilience amid warnings about the rise in worldwide cost of food, energy, and travel due to the ongoing conflict.