SINGAPORE, March 9 (Reuters): Oil soars surged around 25% on Monday to their highest since mid-2022, with Brent on track ‌for a record one-day gain, while gold fell 2% as an escalating Iran war squeezed world energy supplies, boosted the dollar and dampened hopes of interest-rate cuts. Agriculture markets, led by edible oils, rose as they took their cue from oil prices due to the extensive use ​of vegetable oils in making biofuels. Aluminium firmed on supply worries even as other metals faced headwinds from ​a stronger dollar. “The violent reaction stems from the markets seeing no obvious offramp in

March 9 (Reuters): Shares of Indian refiners slumped on Monday, as the widening U.S.-Israeli war with Iran propelled ​Brent crude prices toward $120 per barrel – a near four-year high – threatening their ‌near-term earnings. State-run Indian Oil (IOC.NS), dipped 6.6%, Hindustan Petroleum (HPCL.NS), slid 7.5% and Bharat Petroleum (BPCL.NS), dropped 7.1%, and were headed for their steepest falls in more than ​a year.Reliance Industries (RELI.NS), lost 2%. Brent crude soared as ​much as 26.4% to $117.16 a barrel and was ⁠last up 23% at $114.08 by 9:15 a.m. IST. UBS said ​oil marketing companies are “negatively leveraged” to the