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Commodities

Middle East Tensions Send Oil Prices Soaring Near $90

Guavy AI Editorial Team
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Oil
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Oil prices have remained near $90 a barrel on Thursday as renewed fighting in the Middle East intensified concerns about supply.

The recent hostilities between the US and Iran, along with Saudi Arabia's strikes on militant bases in Iraq, have sparked worries about the reopening of the Strait of Hormuz energy passageway.

Brent North Sea crude had jumped over 8% on Wednesday to trade at $89.44 per barrel in early Thursday hours, while West Texas Intermediate was quoted at $83.55 per barrel.

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