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Live Blog Update| War on Iran

US oil prices soar over 10 percent after Trump demands Iran's surrender

The price of the benchmark US oil contract surged by more than 10 percent on Friday amid fears of extended disruption to crude supplies after President Donald Trump demanded Iran's "unconditional surrender".

West Texas Intermediate surged 10.63 percent to $89.62 per barrel, while international benchmark Brent North Sea crude reached $91.89, its highest level in nearly two years.