US oil price soars over 10 pct. after Trump demand on Iran

The price of the benchmark US oil contract soared more than 10 percent Friday on 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, the highest level in nearly two years.