Oil prices jumped sharply in early Asian trading on Saturday, with Brent crude crossing $90 a barrel as fighting between the United States and Iran raised concerns about energy shipments passing through the Strait of Hormuz.
Brent futures rose $2.75, or 3.12 percent, to $90.85 a barrel by 2202 GMT. West Texas Intermediate gained $2.56, or 3.10 percent, to reach $85.05 a barrel.
The Strait of Hormuz, through which a significant share of the world’s seaborne oil passes, sits at the centre of the conflict zone. Disruptions to shipping in that corridor tend to register quickly in energy markets, and Saturday’s moves reflected that sensitivity.
