Brent oil pares gains after climbing to $126 per barrel on U.S.-Iran escalation fears

Oil prices turned lower on Thursday shortly after Brent crude notched a four-year high on a report that the U.S. military would brief President Donald Trump on potential action against Iran.

Axios reported that the U.S. Central Command was set to present Trump plans for a possible military action against Iran, citing two sources with knowledge of the matter.