Oil prices surged on Monday while global equities slid, as escalating hostilities between the United States, Israel, and Iran rattled energy markets and heightened fears of a prolonged supply disruption in the Middle East. Benchmark crude grades recorded sharp gains in early trading. West Texas Intermediate (WTI), the US light sweet crude, rose to $72.79 per barrel, up 8.6 per cent from about $67 on Friday, according to data from the CME Group, Al Jazeera reported. Brent crude, the international benchmark, climbed 9 per cent to $79.41 per barrel from $72.87 on Friday — a seven-month high — based on figures from FactSet. The rally followed US and Israeli strikes on Iranian targets and retaliatory missile attacks by Iran against Israeli and US military installations across the region. Tr...