Crude oil price passes $90 a barrel after tit-for-tat US-Iran strikes

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Oil prices continue to rise after the resumption of fighting in the Middle East, according to Al Jazeera.

Brent ⁠crude futures are up $1.18, or 1.3 per cent, to $91.67 a barrel at 07:39 GMT, while US West Texas Intermediate crude is up $1.27, or 1.48pc, to $87.03.

“The tit-for-tat missile exchanges between the US and Iran bring validation to those who believe that even if not a ‘forever war’, this conflict will run and run,” says PVM analyst John Evans.

An oil tanker docked at the Port of Fujairah, as the US-Israel conflict with Iran limits marine traffic in the Strait of Hormuz, in Fujairah, United Arab Emirates, on May 6, 2026. — Reuters
An oil tanker docked at the Port of Fujairah, as the US-Israel conflict with Iran limits marine traffic in the Strait of Hormuz, in Fujairah, United Arab Emirates, on May 6, 2026. — Reuters

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