Singapore, April 13 (QNA) - Oil prices surged by nearly 4 percent today, reaching $99.36 a barrel, after the US announced a maritime operation in the Strait of Hormuz.

Brent crude futures rose $4.16, or 4.4 percent, to settle at $99.36.

US West Texas Intermediate (WTI) crude futures settled at $99.08 a barrel, up $2.51, or 2.6 percent.

Earlier in the session, Brent crude futures had risen by more than $8 a barrel, while WTI crude futures had climbed by more than $9. (QNA)