Brent Oil Hits $90 as Middle East War Paralyzes Hormuz Traffic

Brent crude futures hit $90 a barrel for the first time in almost two years as the war in the Middle East unleashed a wave of disruption across energy markets, with shipping through the Strait of Hormuz at a near-total halt.

The global benchmark added as much as 7.6%, while West Texas Intermediate topped $85 for the first time since April 2024. Futures are up more than a fifth this week.