Oil Prices Cross $90 a Barrel as U.S.-Iran Conflict Widens

Oil prices are going up. Now, a barrel of oil costs more than $90. This type of oil is called Brent crude. It is a very important type of oil around the world. On Sunday, the price went up by more than 3 percent when buying and selling started again.

This rise in price happens because of a conflict. There is a problem between the United States and Iran. This problem is getting bigger. When there is trouble, people worry about the supply of oil. They think it might be harder to get oil.

Because of these worries, the price of oil increases. People need oil for cars, planes, and making things. Another important market, called S&P 500 futures, stays almost the same. Its prices do not change much. So, only oil prices are reacting strongly to the wider U.S.-Iran problem right now. High oil prices can mean things become more expensive for everyone.