American crude cost surges more than 10% following Trump's call to action against Iran
Fears of a prolonged disruption to crude supplies sparked a significant surge in the price of the benchmark US oil contract on Friday, with the cost escalating by more than 10 percent, following President Donald Trump's call for Iran's "unconditional surrender".
nWest Texas Intermediate experienced a substantial increase, rising by 10.63 percent to reach $89.62 per barrel.
nMeanwhile, the international benchmark Brent North Sea crude also saw a notable gain, reaching $91.89 per barrel, its highest level in nearly two years.
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