Oil prices spike to $90 due to Mideast tensions
Oil just hit $90 a barrel as the conflict with Iran disrupts supplies, with prices up over 17% this week. Attacks on Gulf energy sites and a sharp drop in tankers using the Strait of Hormuz are fueling concerns. The US issued a short-term waiver for Indian purchases of Russian oil and is considering measures to try to cool prices, but analysts warn $100 oil is possible if the situation worsens.
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