Headline: Oil Futures Surge on Supply Concerns, Crude Prices Jump 3.5% to $78.50 - NYMEX

[Para 1: The Lead] Crude oil futures surged on Wednesday, February 04, 2026, as market participants expressed heightened concern over global oil supply disruptions. Prices climbed 3.5% to settle at $78.50 per barrel on the New York Mercantile Exchange (NYMEX), marking a significant increase from the previous session's close. [Para 2-3: Supporting details & Context] The rally was driven by reports of ongoing tensions in the Middle East, which have disrupted oil shipments from key producers. Additionally, a stronger-than-expected demand for fuel in the northern hemisphere as winter sets in has further fueled the upward momentum. Traders are now closely watching the situation in the region and upcoming inventory reports for further cues on oil prices.