Dhaka, June 13 -- Oil prices surged more than 9.0 per cent on Friday, hitting their highest in almost five months after Israel struck Iran, dramatically escalating tensions in the Middle East and raising worries about disrupted oil supplies.

Brent crude futures jumped $6.29, or 9.07 per cent, to $75.65 a barrel by 0315 GMT after hitting an intraday high of $78.50, the highest since January 27. US West Texas Intermediate crude was up $6.43, or 9.45 per cent, at $74.47 a barrel after hitting a high of $77.62, the loftiest since January 21, according to Reuters.

Friday's gains were the largest intraday moves for both contracts since 2022 after Russia invaded Ukraine, causing energy prices to spike.

Israel said it targeted Iran's nuclear f...