Oil Prices Surge After Trump Vows Retaliation for Iranian Attack The latest surge in oil prices is a warning sign that the simmering tensions between the US and Iran are about to boil over into a full blown economic crisis.
Crude prices have crossed above $90 a barrel, with some benchmarks climbing nearly 8%, sparking concerns among policymakers and investors.
In recent weeks, the oil market has reflected the escalating conflict in the Middle East.