New York, February 19 (QNA) - Oil prices surged more than 4% at settlement on Wednesday, supported by a rebound in global crude benchmarks.

Brent crude futures climbed $2.93, or 4.35%, to settle at $70.35 per barrel, while US West Texas Intermediate (WTI) crude futures advanced $2.86, or 4.59%, to $65.19 per barrel.

Both contracts reached their highest levels since January 30, recovering a day after falling to their lowest levels in two weeks. (QNA)