Oil prices surged on Tuesday as global investors cope with the ongoing attempts to negotiate a truce in Gaza alongside the United States' pledge to step in against militants in the Middle East.
The West Texas Intermediate (WTI) contract for March experienced an increase of 52 cents, or 0.71%, amounting $73.30 a barrel. Simultaneously, the Brent contract for April was trading at $78.58 a barrel, showing a 0.73% rise of 57 cents.
