Miner Company
Oil Soars To $90 As Iran Conflict Intensifies
Oil markets have been on edge since the U.S. and Israel launched strikes throughout Iran Saturday, with the conflict spilling out into other regional oil-exporting countries. Traders have been focused on disruption in the Strait of Hormuz, a shipping lane that 20% of the world's oil consumption passes through daily, according to the U.S. Energy Information Administration.
Oil markets have been on edge since the U.S. and Israel launched strikes throughout Iran Saturday, with the conflict spilling out into other regional oil-exporting countries. Traders have been focused on disruption in the Strait of Hormuz, a shipping lane that 20% of the world's oil consumption passes through daily, according to the U.S. Energy Information Administration.