New York-Sana
Oil prices crossed $90 a barrel for the first time in seven years today, buoyed by supply shortages, escalating political tensions in Europe and the Middle East and growing concern about further turmoil in an already tight market.
Reuters reported that Brent crude contracts rose $1.80, or 2.3 percent, to $90.33 a barrel, the first time that the global benchmark has breached the $90 level since October 2014.
US West Texas Intermediate crude contracts rose $2.1, or 2.46 percent, to $87.72 a barrel.
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