Brent crude surges to $112 per barrel, up by 60% since war began

Brent crude prices have surged by around 60% since the beginning of the Middle East conflict. The prices rose to around $112 per barrel on Monday from approximately $70 per barrel before the conflict. The benchmark crossed $100 per barrel for the first time in nearly four years on March 8-9 as supply from the Strait of Hormuz was disrupted.