Oil climbs to $93 per barrel — Fear of spike to $150 if Gulf exporters halt production due to Strait of Hormuz.
U.S. crude oil broke $90 per barrel Friday after President Donald Trump demanded unconditional surrender from Iran, raising fears of a prolonged war that will cause a cascading disruption to global oil supplies. West Texas Intermediate futures were last up 11.27% to $90.14 per barrel, while global benchmark Brent was 8.09% higher at $92.32. U.S. …