Global Oil Prices Surge Past $90 for First Time Since Iran War — Brent Hits $93.5

Global oil prices have surpassed $90 per barrel for the first time since the start of the Iran war, with Brent crude reaching approximately $93.5 on Friday — its highest level since 2024, according to the Financial Times. Kuwait has cut production due to full storage tanks, while Iraq has halted a significant portion of its output. Analysts warn that if the conflict continues and Persian Gulf oil exports face further disruption, prices could exceed $100 per barrel.