Brent jumps past 90 dollars as Trump promises retaliation

Brent crude rose more than 7 percent to 90.66 dollars a barrel by 2:30 p.m. Eastern after Trump said it was "our turn" following the intercepted Iranian attack and promised a response. The United States said it had completed a round of strikes on Iran.

Why this matters. Crude had settled into the low eighties through the July lull; a seven percent single-session move shows the market still prices the strait as unresolved rather than merely disrupted.