Iran war pushes oil price above $90, threatening rise in global inflation

<p>Reports Kuwait was cutting output pushed up cost of barrel of Brent crude to highest weekly gain since Covid pandemic began</p><p>The Iran conflict has driven the oil price past $90 a barrel to its highest weekly gains since the Covid-19 pandemic six years ago, threatening a fresh rise in global inflation.</p><p>Reports that Kuwait had begun cutting production of oil at some fields after running out of space to store it drove the cost of a barrel of Brent crude to as high as $91.89 at one point on Friday – its highest since April 2024 and up from about $72.50 just before war broke out.</p> <a href="https://www.theguardian.com/business/2026/mar/06/iran-war-pushes-oil-price-above-90-dollars-a-barrel">Continue reading...</a>