New Delhi, March 18 -- Crude oil prices in the international markets surged again to as high as USD 103 per barrel on Wednesday after Iranian parliamentary speaker Mohammad Baqer Qalibaf indicated that the situation in the Strait of Hormuz would not return to normal.

These remarks have heightened uncertainty over the safe passage of vessels through the crucial energy corridor.

In a post on X, Qalibaf said, "The Strait of Hormuz situation won't return to its pre-war status."

His statement comes amid escalating tensions in the region following ongoing military confrontations involving the United States, Israel and Iran, raising serious concerns about the stability of global energy supply chains.

During Wednesday's trading session, crude...