Oil Price Tops $90 as US-Iran Conflict Heats Up

The price of Brent crude oil — a global benchmark for what drivers and businesses pay — topped $90 a barrel on July 20, 2026, up about 3% as US-Iran fighting expanded to ship targeting (Reuters, Bloomberg). Since March, prices have bounced between $90 and $112: $90 holds when fighting pauses, then jumps when it resumes. Past spikes eased through diplomacy. If this one doesn't, April's high of $104 is the next ceiling.