Tensions between Iran and the US are escalating, affecting oil prices. Benchmarks have recovered some lost ground after an earlier ceasefire raised hopes of a resolution. The price of Brent crude has increased, nearing a significant milestone.

A warning of "economic warfare" from Iran has contributed to the latest price increase. Tehran has also made claims about a new missile and plans for a shipping corridor.

Further details about the situation and its impact on oil prices are available from the source, including specific price changes for Brent crude and West Texas Intermediate.