Brent breaks past $90 as U.S.-Iran conflict rages on

Brent crude (BZ=F) topped $90 a barrel on Monday as the U.S.-Iran conflict stretched into a ninth night of strikes, raising the risk of disruptions to shipments through the Strait of Hormuz. The international benchmark for September delivery gained 2.77% to $90.02, while U.S. West Texas Intermediate (CL=F) for August rose 2.4% to $84.49.

The U.S. military confirmed a third American service member had been killed in recent operations. Investigators recovered unidentified remains near the site of an Iranian attack in Jordan that had previously left two U.S. personnel dead and another missing. American forces have targeted Iranian coastal surveillance, air defense systems, maritime assets, and missile and drone storage facilities, Central Command said. The strikes will continue until Iranian capabilities are degraded, the command stated.