Brent crude

The results come at a highly volatile time for global oil markets as the US-Israeli tensions with Iran has led to a near-closure of the Strait of Hormuz

Global financial markets have been rattled by the conflict, with both the emerging market equities and currency indexes falling to three-week lows

OPEC+ has increased its oil output targets by more than 2.7 million bpd this year, equivalent to about 2.5 per cent of global demand