Brent crude oil futures rose to around $69.9 per barrel on Thursday, the highest level in over two months, as rising tensions between the US and Iran sparked fears of supply disruptions. The US is preparing a partial evacuation of some personnel in the Middle East after Iran threatened to strike US bases in the region if nuclear negotiations fail. Further supporting prices, the US and China on Tuesday agreed to a framework and implementation plan to ease tariff and trade tensions, boosting optimism for energy demand from the world’s two largest oil consumers. On the economic front, softer-than-expected US consumer inflation data reinforced expectations that the Federal Reserve could begin cutting rates by September. Also, data released by US EIA showed crude oil stocks fell by 3.6 million barrels in the week ended June 6, more than forecasts of a 2 million-barrel decline, signaling strong demand.