Oil prices climbed sharply on Friday, putting them on course for their biggest jump since early 2020 as the escalating Iran war raises concerns about global energy supplies. US crude oil surged more than 11% in midday trading to above $90 per barrel, marking its highest level since October 2023. Brent crude, the international benchmark, also crossed the $90 mark after jumping more than 8%, reaching its highest level since April 2024.
Iran War Sends Oil Prices Soaring Past $90, Raising Concerns For US Economy
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