Global oil prices surged by 14 per cent to almost $85 per barrel yesterday as the escalating conflict between the United States and Iran intensified fears of prolonged disruptions to global crude supplies.

Crude oil prices soared nearly 5% on July 13, with Brent nearing $80 per barrel, as escalating US-Iran strikes fueled market volatility and supply concerns.

By Obas Esiedesa, Abuja Global oil prices climbed by more than four per cent on Monday, with Brent crude rising to about $79 per barrel, as renewed hostilities between the United…