Brent crude hit a 4-year high Thursday following a report that the U.S. military would brief President Donald Trump on potential action against Iran, raising worries that armed conflict could resume, and building on the American blockade of Iranian exports.

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.

Trump had earlier reportedly rejected Tehran’s proposal to reopen the Strait of Hormuz, signaling the naval blockade will remain in place until a broader nuclear agreement is reached.

International benchmark Brent crude futures rose to a wartime high of $126 a barrel, before paring gains to $121.71 per barrel, up 3.1% for the session, while U.S. West Texas Intermediate added 1.3% to $108.17 as of 4:33 a.m. ET.

The latest move higher extends a multi-day rally for Brent and WTI, with both contracts up around 60% since the U.S. and Israeli-led war against Iran started on Feb. 28.