Oil prices jump over 1% over fears of  Iran nuclear site strikes

Oil prices jumped over 1% on Wednesday following reports that Israel may be preparing to strike Iranian nuclear facilities, sparking fresh concerns over potential disruption in the Middle East, a critical oil-producing region.

Brent crude futures for July delivery rose by 86 cents, or 1.32%, to $66.24 a barrel, while US West Texas Intermediate (WTI) crude futures climbed 90 cents, or 1.45%, to $62.93 in early Asian trading.

According to a CNN report citing multiple US officials, Israel is preparing for potential military action against Iranian nuclear sites. While it remains unclear whether a final decision has been made by Israeli leadership, the prospect of conflict has already begun to rattle markets.