Oil prices top $116 per barrel as Iran prepares for US ground invasion

Oil prices have hit their highest point in nearly 15 days, as the conflict in the Middle East continues to disrupt important trade routes. 

As the US-Israel war on Iran engulfs the region, Brent crude rose more than 3 percent on Monday morning to top $116 a barrel.

The fresh jump comes as Iranian officials said that the country was preparing for a ground invasion by the US. 

Reports have said that America is preparing to seize Kharg Island with more than 5,000 troops and take over the country's oil supplies.