Oil jumps nearly 3% after Trump's warning, US crude $90.76
Business
Oil prices shot up on Wednesday after fresh tensions between the US and Iran.
US crude climbed nearly 3% to $90.76 a barrel, while Brent hit $93.80.
The spike followed President Trump's warning of more military action, saying, "We hit them hard yesterday, and we're going to hit them hard again today."
US strikes Iranian targets, regional retaliation
The US struck Iranian targets near the Strait of Hormuz Tuesday night after an American helicopter was downed.
In response, Iran fired missiles at Bahrain, Kuwait, and Jordan, marking one of the biggest escalations.
With Iran-Israel tensions also rising, countries are keeping a close eye on things due to fears about energy supplies and wider conflict in West Asia.