TOKYO/SINGAPORE: Oil prices surged more than 3 percent on Thursday, extending a rally as the escalating US-Israeli war with Iran raised fears of prolonged disruptions to vital Middle East oil and gas supplies. Brent crude advanced $2.65, or 3.26 percent, to $83.99 per barrel by 08:20 am Saudi time, a fifth session of gains. US West Texas Intermediate crude rose $2.76, or 3.70 percent, to $77.42.

The conflict in the Middle East has sent oil prices soaring, as Brent Crude hit a new 52-week high on Monday.

SINGAPORE: Oil prices rose for a third day on Tuesday as the widening US-Israeli conflict with Iran and threats to shipping through the Strait of Hormuz heightened fears of…