India, Oct. 22 -- Crude oil prices have surged on Thursday amid increasing concerns of long-term supply disruptions following reports that the U.S. and Israel are planning for a joint military operation against Iran after the November midterm elections in the U.S.
WTI Crude Oil for December delivery was last seen trading up by $2.19 (or 2.25%) at $99.34 per barrel.
According to a report by the New York Times, the U.S. and Israel have drawn up plans for recommencing strikes on Iran after the U.S. midterm elections in the first week of November.
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