Oil Prices Soar Above $90 a Barrel Amid US-Iran Tensions

Oil prices surged to over $90 a barrel after tensions between the U.S. and Iran escalated.

The American military launched a ninth consecutive night of attacks on the Middle Eastern country, prompting a rise in shares of multiple oil companies and oil exchange-traded funds.

Battalion Oil Corp. (BATL) and Trio Petroleum Corp. (TPET) rose over 7% and by more than 8%, respectively, while Exxon Mobil Corp. (XOM) and Chevron Corp. (CVX) each gained about 1%.

The United States Oil Fund (USO), which tracks the daily price movements of West Texas Intermediate (WTI), climbed over 2% at the time of writing, and ProShares Ultra Bloomberg Crude Oil (UCO) rallied more than 3%.