Oil prices surged to more than $119 a barrel on Monday, hitting levels not seen since mid-2022, as some major producers cut supplies and fears of prolonged shipping disruptions gripped the market due to the expanding U.S.-Israeli war with Iran.
Brent crude futures LCOc1 were up $12.77, or 14%, at $105.46 per barrel at 1126 GMT, while U.S. West Texas Intermediate (WTI) crude CLc1 futures were up $12.66, or 14%,
