Commodities
US-Iran Conflict Sends Oil Prices Soaring Past $90 a Barrel
The ongoing conflict between the US and Iran has led to an increase in oil prices, surpassing $90 a barrel. Brent crude futures have risen by $1.18 or 1.3% to $91.67 a barrel at 07:39 GMT.
US West Texas Intermediate crude is also up by $1.27 or 1.48%, reaching $87.03 a barrel. This rise in oil prices is attributed to the recent tit-for-tat missile exchanges between the two countries, according to PVM analyst John Evans.
Evans noted that these developments validate the notion that this conflict will persist and have ongoing implications for global energy markets.