Oil Prices Soar Above $90 as US-Iran Conflict Continues

Oil prices have surpassed $90 per barrel as tensions between the U.S. and Iran escalate.

The price of West Texas Intermediate, the U.S. benchmark, is around $91 a barrel, while Brent, the global benchmark, is approaching $100 a barrel.

Investors are concerned about the prolonged conflict, with William Stern, CEO and founder of Cardiff, stating, 'We're still at war. Tankers are still being fired on in the Strait of Hormuz and investors don't see an end to the fighting anytime soon.'

David Russell, global head of marketing strategy at TradeStation, sees a 'uniquely frightening' backdrop for investors, with geopolitical risks creating uncertainties beyond earnings growth.