Oil prices surge past $80

Oil prices have skyrocketed to over $80 per barrel on Wednesday, driven by heightened geopolitical risks stemming from the escalating tensions in the Middle East, according to Report, which cites the trading data.

Brent futures for September delivery on the ICE Futures exchange soared by $2.13 (2.71%), reaching $80.76 per barrel. October contracts also saw significant gains, rising by $2.11 (2.7%) and trading at $80.18 per barrel.