Pakistan, April 13 -- Global oil prices have surged following a lack of progress in negotiations between Iran and the United States (US), raising concerns over supply stability and geopolitical tensions.

Read More: Oil prices surge as US Iran tensions escalate

According to market reports from Singapore, crude oil prices climbed sharply after talks held in Islamabad ended without a breakthrough. The absence of an agreement between the two countries has fueled uncertainty in energy markets, prompting traders to factor in potential supply disruptions.

Benchmark crude prices recorded notable gains, with Brent crude oil rising to above $103 per barrel, marking a significant jump of around 9 percent. Similarly, West Texas Intermediate (WTI) ...