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Crude Oil Prices Soar to $90 as US-Iran Tensions Escalate

Guavy AI Editorial Team
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Oil
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New York crude oil futures surged to $90.22 per barrel on Monday, marking the first time front-month futures closed above this level since late July.

The price hike of 5.2% was triggered by the US military's announcement of new strikes against Iran's Revolutionary Guard Corps, heightening concerns over energy supply from the Middle East.

Iran had threatened to retaliate against the US strikes with 'attacks multiplied several times over', further escalating tensions in the region.

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