India, March 6 -- Global energy markets continue to surge as the war between the United States-Israel alliance and Iran entered its seventh day, raising fears of prolonged supply disruptions through the Strait of Hormuz, one of the world's most critical oil shipping chokepoints.

Brent crude traded between $84.17 and $84.59 per barrel on March 6, slightly below the previous day's peak of above $85 but still higher than the $83-$84 range seen a day earlier. US benchmark West Texas Intermediate (WTI) crude hovered near $79.5-$80 per barrel after surging nearly 20 per cent over the past week, marking its biggest weekly advance since 2022.

Analysts estimate the conflict has added a geopolitical risk premium of $5-$14 per barrel to global oil...