Pakistan, June 8 -- Global oil prices surged on Monday after renewed military tensions in the Middle East raised fears of prolonged supply disruptions and further instability in energy markets.

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Brent crude futures climbed by more than $3 a barrel, rising 3.39 percent to $96.24 per barrel, while US West Texas Intermediate crude gained 3.17 percent to reach $93.41 per barrel. The sharp increase reversed losses recorded at the end of last week when hopes for de-escalation had briefly eased market concerns.

The latest rally was triggered by Israeli strikes in Lebanon on Sunday, followed by Iranian missile attacks on Israeli targets. Additional reports of explosions in seve...