Pakistan, March 5 -- Oil prices surged more than three percent on Thursday, extending a multi-day rally as the escalating conflict involving the United States, Israel and Iran heightened fears of prolonged disruptions to critical Middle East energy supplies.

Brent crude rose $2.65, or 3.26 percent, to $83.99 per barrel by 05:20 GMT, marking its fifth consecutive day of gains. US West Texas Intermediate crude climbed $2.76, or 3.70 percent, to $77.42 per barrel as traders reacted to mounting geopolitical risks.

Analysts said the oil market remained highly sensitive to developments in the region, particularly around the Strait of Hormuz, a strategic shipping route through which roughly one-fifth of the world's oil and liquefied natural g...