Hyderabad, April 24 -- Global oil prices surged on Friday, April 24, with Brent crude climbing above USD 106 a barrel as tensions between the United States and Iran intensified around the strategic Strait of Hormuz, raising fresh fears over global energy supplies.

Markets reacted to reports of reciprocal seizures of commercial vessels by Washington and Tehran, while concerns also mounted over possible renewed mining activity in the narrow waterway through which a significant share of the world's oil trade passes.

Kuwait reopens airspace after precautionary closure

Kuwait reopened its airspace on Thursday, April 23, after a temporary suspension introduced as a precaution amid heightened regional tensions linked to the US-Iran conflict....