Iran held annual military drills with Russia as a second American aircraft carrier drew closer to the Middle East, with the United States and Iran signaling they are prepared for war if talks on Tehran’s nuclear program fizzle out.

As Trump pressures Iran, he's spoken of an "armada" heading for the Mideast, but there's another massive movement of American fire power in the air.

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MOSCOW, Feb 19 (Reuters) - Russia said on Thursday that it was seeing an unprecedented escalation of tension around Iran as the United States moved military assets into the Middle East, and the Kremlin urged both Tehran and "other parties" to exercise prudence and restraint.

The White House spokeswoman says there are "many reasons and arguments that one could make for a strike against Iran".

Crude prices rise amid U.S.-Iran tensions, with the White House saying Tehran would be "very wise" to make a deal. CNBC's Dan Murphy joins "Squawk Box Europe" to discuss the latest developments.

Iran says it temporarily closed parts of the Strait of Hormuz, one of the world's most crucial shipping lanes, for a military drill and missile test.

The Iranian naval drill and the arrival of the USS Gerald R. Ford aircraft carrier near the mouth of the Mediterranean Sea underscore the tensions between the nations.