Brent tops $91 amid US Iran faceoff, WTI above $84
Oil prices just shot up again. As of Monday, July 20, Brent crude is now over $91 a barrel, after jumping 16% last week. WTI crude is above $84 too.
The spike comes as the US and Iran face off, with fresh attacks hitting oil and energy facilities in Kuwait and Iran.
Kuwait oil attacks stoke supply fears
A major Kuwait oil site was attacked this weekend, causing injuries and big damage; other energy sites there were also hit.
Iran blames the US for striking its nuclear facility under construction since 2022.
Meanwhile, Iranian forces attacked ships in the Strait of Hormuz, while US forces reportedly targeted spots inside Iran.
With both sides trading threats (Iran's Supreme Leader called US agreements "worthless"), the world's worried about more disruptions to oil supplies and even higher prices.