US-Iran war, March 12 -- Crude oil prices surged past the $100 a barrel mark on Thursday, March 12, as supply concerns worsened with Iranian attacks on commercial shipping around the Strait of Hormuz, overshadowing the International Energy Agency's (IEA) decision to release 400 million barrels of crude stocks.

The global benchmark Brent Crude climbed as much as 10.5% to $101.59 a barrel, while West Texas Intermediate jumped to nearly $96 in a fresh jolt to the global markets and world economy. Crude oil prices had shot up at the beginning of the week to nearly $120 before cooling off in the subsequent sessions.

Back home, crude oil prices on Multi Commodity Exchange (MCX) also witnessed a similar upward trend. MCX crude oil prices surge...