Brent crude rises to $92.51 as U.S.-Iran clashes escalate
Business
Brent crude prices rose to $92.51 per barrel, thanks to fresh clashes between the US and Iran near the Strait of Hormuz, a key route for global energy.
After US strikes hit southern Iran, Iran's Islamic Revolutionary Guard Corps, or IRGC, struck back with a drone attack on the US Navy in Bahrain, making things even more tense.
WTI tops $89 as IRGC warns
Brent crude is now above $92.51 per barrel and WTI has topped $89, sparking worries about longer-lasting energy troubles.
The IRGC warned that "heavier responses" could follow if attacks against Iran continue, so hopes for a peace deal between Tehran and Washington have pretty much faded for now.