US-Iran war, March 2 -- Oil prices surged on Monday after US and Israeli strikes on Iran, along with Tehran's retaliatory attacks on Israel and US military bases across the Gulf, disrupted the global energy supply chain.

West Texas Intermediate was trading at $72.79 per barrel early Monday, marking an 8.6% jump from around $67 on Friday. Meanwhile, Brent crude, the global benchmark, was trading at $79.41 per barrel early Monday, marking a 9% jump from Friday's price of $72.87, which had already touched a seven-month high at the time.

Back home, Multi-Commodity Exchange of India (MCX) crude oil prices surged more than 10% amid escalating tensions in the Middle East. The MCX crude oil contract for March expiry climbed Rs.624, or 10.24%, t...