Global crude oil prices surged sharply after renewed military tensions and bombardments in the Middle East sparked fears of potential supply disruptions in international energy markets. Benchmark crude rose by nearly 3 percent in the latest trading session, reaching around $97.24 per barrel
Iran on Wednesday claimed that shipping movement through the Strait of Hormuz could return to pre-war levels within a month under a proposed framework agreement with the United States, even as Washington strongly denied the existence or authenticity of such a deal.
