Washington, July 20 -- Oil prices climbed above USD 90 a barrel on Sunday in the first major trading session since the deaths of three US service members and the further escalation of hostilities between the US and Iran.
The rise is expected to increase pressure on fuel costs, with higher crude prices likely to feed through into more expensive petrol for motorists and diesel for freight transport while adding to global inflation concerns.
Brent crude, the international benchmark, rose above USD 90 a barrel for the first time since mid-June, furthering the gains made last week post the collapse of the US-Iran ceasefire, leading to renewed disruption in tanker traffic through the Strait of Hormuz following its brief rise during the ceasefir...