Crude Oil Climbs Past $90 as US-Iran Tensions Escalate

Crude oil prices reclaimed the $90 mark on Monday following escalating military tensions between the United States and Iran. U.S. forces struck two launcher installations on Iran's Larak Island in the Strait of Hormuz on Sunday, marking the first known American strike on Iran since late July.

In response, Iran's Revolutionary Guards attacked two U.S. air bases in Jordan, according to Iranian media reports. The tit-for-tat military action has dimmed prospects for a peaceful resolution between the two nations, weighing on global energy markets.