Oil prices rallied, with international benchmark Brent North Sea crude powering above $85 a barrel, as the United States and Iran traded fresh attacks.

Oil prices surge as U.S.-Iran tensions escalate, with Brent reaching $85.72 and WTI at $79.98 per barrel.

SINGAPORE: Oil extended gains on Wednesday as President Donald Trump reimposed a naval blockade on all Iranian ports and Tehran launched strikes on US infrastructure in the…