Oil tops $90 for the first time as Iran tensions deepen

Oil prices surged, with Brent crude exceeding $90 per barrel for the first time amid heightened geopolitical tensions in the Middle East, following US President Donald Trump's warning that only "unconditional surrender" from Iran would suffice. This rhetoric increased fears of escalating conflict and potential supply disruptions. Qatar's energy minister warned the Middle East war could push oil prices as high as $150 per barrel. Market analysts suggest traders are now pricing in a prolonged conflict, especially as Iraq has halted most production and Kuwait faces storage capacity issues. The oil surge negatively impacted broader markets, causing Bitcoin to drop near $68K and major stock indices to decline.

(Source：Crypto Briefing)