Brent crude futures hit $90 for the first time in almost two years. The war in the Middle East has basically halted shipping through the Strait of Hormuz. Citigroup estimates the market is losing 7 to 11 million barrels of supply a day because of this. The Trump administration signaled imminent action but denied they are tapping the Strategic Petroleum Reserve yet. They did ease restrictions on India buying Russian oil to help supply. Goldman Sachs flagged risk of oil topping $100 if this continues. Qatar's energy minister warned it could hit $150.