Oil prices surge as US-Iran hostilities reignite supply concerns

Crude oil prices advanced on Thursday, heading toward their largest weekly gain since mid-July. The upward movement followed a resurgence of military activity between the United States and Iran, intensifying market anxiety about potential disruptions to oil supplies from the Middle East.

At 0100 GMT, front-month Brent crude futures gained 15 cents, or 0.2 percent, to settle at $95.67 per barrel. Simultaneously, West Texas Intermediate (WTI) futures rose 26 cents, or 0.3 percent, to $91.56 per barrel.