U.S. Oil Markets Surge Past $90 After 14% Spike, Fuel Price Shock Looms

U.S. oil prices have suddenly surged above $90 per barrel, a level not seen since October 2023, raising fresh concerns about how quickly fuel costs could climb for American drivers.

The spike was unusually sharp, with benchmark West Texas Intermediate crude jumping roughly 14% in a single day as traders reacted to shifting market conditions.

According to …