Oil prices jump above $90 as war in Iran disrupts global supplies

A war in Iran has sent oil prices sharply higher, with the cost of a barrel rising above $90. This is due to major concerns about supply disruptions, as energy exporters are scrambling to find alternative shipping routes out of the Persian Gulf.

This price surge is threatening to push up global inflation again. It's also causing significant volatility in energy and power markets worldwide, with Europe seeing wild swings in electricity prices and major Asian economies bracing for an energy shock.