US Oil Tops $90 for First Time Since July Amid Fresh Strikes

US crude oil topped $90 a barrel for the first time since late July after US forces struck targets in Iran, raising concerns about prolonged disruption to energy flows through the Strait of Hormuz. West Texas Intermediate rose as much as 5.1%, with two oil supertankers hit by projectiles while exiting the waterway late Monday. The spike is rippling through global markets as higher energy costs stoke inflation fears, pushing global bond yields to nearly a two-decade high, while diesel refining margins hit a fresh all-time record.