Brent oil prices have surged to more than $119 a barrel, their highest level since early 2022, raising the economic toll from the war in the Middle East, according to AFP.

Near 1715 GMT (10:15pm PKT), Brent oil futures were up 7.6 per cent at $119.69, its highest level since the early days of the Ukraine war in 2022.

Oil prices have surged since US-Israeli attacks on Iran prompted Tehran to effectively close the Strait of Hormuz, a key waterway for petroleum deliveries.