Oil prices surge more than 4% in early Asian trade

[TOKYO] Oil prices surged in early trade on Monday, after the United States joined Israel’s campaign against Tehran’s atomic programme by bombing Iranian nuclear sites.

Brent and the main US crude contract WTI both jumped more than four per cent to hit their highest price since January. They then pared gains. At 2335 GMT on Sunday, Brent was up 2.4 per cent up at US$78.83 per barrel and WTI was up 2.5 per cent at US$75.66. AFP