Brent crude tops $105 amid United States and Iran tensions
Business
Brent crude oil just shot past $105 a barrel, its highest point since July 2026.
The reason? Tensions between the US and Iran are making people nervous about possible disruptions to global oil supplies, especially through the Strait of Hormuz, which moves about 20 million barrels a day.
Saudi Arabia's output lowest since 1990
Saudi Arabia's oil output has hit its lowest level since 1990, dropping by 1.9 million barrels a day last month.
With fewer ships passing through the Strait of Hormuz and ongoing conflicts pressuring supply routes, experts say we could see oil prices stay elevated for a while.