Oil prices soar on fears of long supply disruption, US siege of Iran ports

Oil prices have surged, with US crude settling up 6.95 percent at $106.88 per barrel and Brent crude up 6.08 percent at $118.03. The rise is attributed to concerns about prolonged supply disruption in the Strait of Hormuz and a US siege of Iranian ports. Oil prices continue to surge with no resolution in sight to the US-Israel war on Iran, causing supplies of fuel to remain snarled in the Strait of Hormuz.