Brent Crude Hits $90 as U.S.-Iran Tensions Affect Oil Supply

Brent crude rose about 2.77% to over $90 per barrel, while U.S. West Texas Intermediate increased approximately 2.4% to $84.49. The escalation in U.S.-Iran conflict, including military strikes and casualties, has raised concerns about energy shipment disruptions through the Strait of Hormuz. U.S. Central Command confirmed ongoing strikes aimed at degrading Iranian military capabilities affecting oil transit security. These developments have contributed to fears of tight global crude markets, prompting analysts to suggest that oil inventories may become constrained by September. This matters for investors as rising oil prices can impact energy stocks and overall market sentiment.