Oil exceeds $90 amid US-Iran tensions
Oil prices surged sharply following the escalation of the US-Iran conflict, with Brent crude jumping to $90.75 per barrel, a 3% increase, while West Texas Intermediate reached $83.85, up 2.5%. This came after the United States and Iran exchanged military strikes over the weekend, sparking fears of further escalation and a deterioration of oil supplies in the Middle East, amid ongoing disruptions to shipping traffic through the Strait of Hormuz.
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