Prices moved back over the $90-a-barrel mark Tuesday amid rising geopolitical tension tied to Houthi threats in the Red Sea and a tenth straight day of US airstrikes on Iran.
Oil prices climbed back above $90 a barrel on Tuesday as geopolitical risk intensified in the Middle East. The move was linked to escalating Houthi threats in the Red Sea, a vital shipping corridor, and to the United States launching its tenth consecutive day of airstrikes on Iran. Higher crude prices often reflect fears that conflict could disrupt energy flows or shipping routes, pushing traders to price in a larger risk premium.