Washington/Tehran, March 30 -- Oil prices surged above $116 per barrel after markets opened on Sunday, as Iran-backed Houthi militants fired missiles and drones at Israel, intensifying concerns over global supply disruption.
Brent crude, the global benchmark, rose by 3.3% to $116.25 per barrel, while US benchmark West Texas Intermediate (WTI) also climbed by 3%, reaching $103.
The rise comes as the US-Israel war against Iran enters its fifth week with no end in sight and no de-escalation, with President Donald Trump continuing to send mixed messages, advocating diplomatic outreach while backing it with increased military posturing,raising fears that the conflict could spill beyond West Asia and become a wider global threat.
With Iran eff...