Iran Retaliation Sends Oil Prices Soaring Past $90

Oil prices surged to $90.32 per barrel on concerns over supply security in the region after the US attacked Lark Island near the Strait of Hormuz, prompting a retaliatory strike from Iran.

The International benchmark Brent crude futures for November delivery traded at $90.32 per barrel, up 4.8% from the previous close of $86.12.

US military operations on Lark Island killed at least two people, including civilians, and injured two others, according to reports.

The Iranian military responded with a barrage of ballistic missiles targeting US air bases in Jordan and dozens of drones hitting US troops and helicopters stationed at the Al Minhad Air Base in the UAE.