Oil Prices Hits $90/Barrel on Fears of Prolonged Conflict

Crude oil prices shot up sharply after US President Donald Trump sought what he called “unconditional surrender” from Iran, intensifying worries about a prolonged conflict that could disrupt global energy supplies. 

Crude Oil WTI Futures were 12.2 per cent up at USD 90.90 at the time of filing this



report. 

It has seen its biggest weekly gain since April 2020, according to reports. Escalating tensions in Iran and the wider West Asia region have intensified concerns over global crude oil supplies, with experts warning of sustained volatility that could potentially impact the global energy sector, including India.