Oil prices have surged in global markets, Azerbaijan’s state news agency (AZERTAC) reported on Thursday.

On the London InterContinental Exchange Futures (ICE), Brent crude oil increased by $0.32, reaching a trading value of $83.07. Similarly, the price of Light crude oil on the New York Mercantile Exchange (NYMEX) rose by $0.32, reaching a current value of $78.95.