Sri Lanka, March 9 -- Oil prices have surged past $100 a barrel amid the fallout of the United States and Israel's war on Iran.

Brent crude, the international benchmark, rose more than 20 percent on Sunday, at one point topping $114 a barrel, as fears grew of prolonged disruption to global energy supplies.

After moderating slightly, the benchmark was hovering around $107.50 as of 02:30 GMT on Monday.

The surge marked the first time oil rose above $100 per barrel since Russia's 2022 invasion of Ukraine.

US President Donald Trump, who campaigned heavily on cost-of-living concerns in the 2024 election, brushed off the spike in prices.

"Short term oil prices, which will drop rapidly when the destruction of the Iran nuclear threat is over...