U.S. strikes on Iran pushed oil prices up more than 2.5%. In early European trade, July Brent rose 2.6% to $96.74/bbl and July WTI rose 2.6% to $90.95/bbl. ANZ analysts said traders are increasingly cautious about holding long oil positions until there are signs of de-escalation; supply remains constrained and key issues are unresolved. With disruptions having driven inventories sharply lower, market participants are awaiting U.S. EIA weekly stock data due Thursday evening.