Baku, February 2, AZERTAC Oil prices have surged in the global markets.On the London InterContinental Exchange Futures (ICE), Brent crude oil rose by $0.31, reaching a trading value of $79.01. Simultaneously, the price of Light crude oil at the New York Mercantile Exchange (NYMEX) increased by $0.25, reaching a standing value of $74.07.