Oil back above $90 as Iran hits tankers
Financial Times 2026-07-20 05:20:26
Context: The price of oil has surged above $90 per barrel as tensions escalate in the Middle East, specifically following a series of attacks on tankers by Iran. In response, the US has launched a fresh wave of attacks, which has resulted in a rising number of American casualties. The situation is rapidly deteriorating, with significant implications for the global economy.
Key Facts
- The price of oil has risen above $90 per barrel, a significant increase driven by supply chain disruptions and heightened tensions in the region.
- Iran has been responsible for a series of attacks on tankers, which has led to a marked escalation of the conflict in the Middle East.
- The US has carried out a fresh wave of attacks in response to the Iranian aggression, with the number of American casualties continuing to rise as a result of the ongoing hostilities.