International oil prices surge on U.S.-Iran clash, Brent crude tops $90

[Financial News] As tensions between the United States and Iran continue, international oil prices are surging. In particular, Brent crude oil prices climbed above $90 per barrel for the first time since June.
According to CNBC and other outlets, the September Brent crude contract traded on the ICE Futures Europe in London, United Kingdom, rose 3.21% from the previous session to $90.93 per barrel on the 19th local time. It was the first time Brent crude had topped $90 per barrel since June 11. At the same time, the August West Texas Intermediate crude oil (WTI) contract traded on the New York Mercantile Exchange rose 2.75% to $85.76 per barrel.
International oil prices also jumped as the United States and Iran repeatedly carried out airstrikes against each other in earnest this month. Prices had plunged after the two sides signed a ceasefire memorandum on May 17 and oil supplies through the Strait of Hormuz recovered, but they have recently rebounded. In a report on the 19th, The New York Times said that "the rest of the memorandum has also fallen apart," while CNN assessed that "the ceasefire between the United States and Iran has effectively collapsed."
In addition, a U.S. government official told The Washington Post that "the United States is preparing for a larger war," adding that it is increasing the deployment of military aircraft to the Middle East. The New York Times also cited officials as claiming that British and German F-35 and F-16 fighter jets are being forward-deployed to Israel.
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