It comes after prices surged on Monday and as the US is set to announce plans to deal with the rising cost of energy.

Brent crude rose by 13% during early trading and stock markets came under pressure as US-Israeli strikes on Iran raised fears of disruption

JEDDAH: Oil prices surged by as much as 13 percent on March 2 after retaliatory Iranian attacks disrupted shipping in the Strait of Hormuz, following Israeli and US strikes on…