Oil prices reach one-month high as Iran war escalates again

Jump to contentThank you for registeringPlease refresh the page or navigate to another page on the site to be automatically logged inPlease refresh your browser to be logged inAllNewsSportCultureLifestyleBrent crude oil prices surged above $90 a barrel, reaching their highest in over a month, due to escalating US-Iran hostilities in the Middle East. The conflict has intensified with US forces conducting strikes against Iran, and Iran retaliating against American allies Kuwait and Bahrain. Both nations are escalating attacks on shipping in the Strait of Hormuz, a critical waterway through which approximately a fifth of the world's oil normally transits. Incidents include a US naval blockade, Iran targeting tankers, and a third vessel reportedly on fire, leading to a sharp reduction in ship transits. Analysts warn that the oil market may be underestimating the significant risk to global supply, given the potential for wider conflict and already tight inventories. In fullOil price soars above $90 as US and Iran escalate warMore bulletinsThank you for registeringPlease refresh the page or navigate to another page on the site to be automatically logged inPlease refresh your browser to be logged in

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