https://cdnph.upi.com/ph/st/th/2031788171483/2026/upi/58fa5c37447c7263dabd52e8f01119fc/v1.5/Price-of-oil-rises-after-renewed-US-Iran-fighting-in-Middle-East.jpg" /> Oil prices surged as hostilities resumed in the U.S.-Iran conflict for the first time in almost month after American forces hit Larak Island.