Oil Prices Surge Past $113 as Middle East Conflict Deepens Supply Worries

Crude oil prices climbed sharply at the open on Monday, with the US benchmark West Texas Intermediate (WTI) rising 1.86 percent to $113.62 a barrel. The international Brent crude benchmark also advanced, trading above $110 per barrel. The upward momentum comes as the ongoing war in the Middle East continues to tighten global energy supplies. Market participants are assessing the potential for further disruptions to oil flows from a region that accounts for a significant share of global production. The price action reflects persistent concerns over supply stability amid geopolitical tensions.