Major energy companies are set to borrow billions to maintain shareholder payouts or cut the rate of share repurchases in the face of a drop in oil prices after more than two years of bumper profits,

Oil prices jumped about 4% on Tuesday following reports Iran was preparing to launch a missile attack on Israel. Brent futures were up $2.50, or 3.5%, to $74.20 a barrel by 11:50 a.m. EDT (1550 GMT),

Oil futures turned sharply higher in Tuesday dealings after the U.S. warned of a potential missile attack by Iran on Israel in what would be a significant escalation of tensions in the Middle East that would threaten global crude supplies from the region.