Oil prices surged by as much as 10 per cent as markets opened in Asia, after US and Israeli strikes on Iran heightened fears of a wider conflict in the Middle East and potential disruption to global energy supplies. Brent crude and Nymex light sweet crude both leapt sharply in early trading on Monday, before easing slightly. Brent rose more than 12 per cent at one stage to around $82 a barrel, having settled at just over $73 on Friday. By mid-morning in Asia, it was trading close to $79.30, up nearly 9 per cent. US crude climbed about $8, or 12 per cent, to roughly $75 a barrel, while West Texas Intermediate was up around 8 per cent at about $72.