Muscat: Oil prices surged past $100 a barrel today as the US navy prepared to blockade the Strait of Hormuz after talks between the United States and Iran ended without an agreement. Brent crude futures rose $7.11, or 7.47 percent, to $102.31 a barrel, after falling 0.75 percent at Friday's settlement.

According to Oman News Agency, West Texas Intermediate crude settled at $104.43 a barrel, up $7.86, or 8.14 percent, after declining 1.33 percent in the previous session.