Crude prices cross $90 as ceasefire hopes dim, Hormuz disruption weighs on supply
Crude oil prices surpassed $90 on Tuesday amid escalating Middle East tensions as Iran adopted a more aggressive military stance and the US declined to extend the ceasefire. Shipping through the Strait of Hormuz has notably decreased due to recent attacks, impacting supply. Analysts anticipate a decline in US crude oil inventories for the previous week.