New Delhi, March 12 -- International crude oil prices surged on Thursday morning despite the International Energy Agency's (IEA) decision to release 400 million barrels of crude stocks.

Prices jumped after two oil tankers were attacked in Iraqi waters, leading to the suspension of oil terminal operations in the country.

Iraq is one of the largest oil suppliers globally and has been the second-largest oil supplier to India in the past few years, making the disruption significant for global energy markets. The escalation also comes in the backdrop of Iran warning on Wednesday that oil could surge to $200 a barrel as tensions in the region intensified with attacks on merchant ships.

At 8:25 AM, the April contract of benchmark Brent crude ...