Oil surged the most in four years as tanker traffic all but halted through the Strait of Hormuz and a big refinery in Saudi Arabia stopped, with an escalating conflict in the Middle East threatening supplies in one of the world’s key producing regions. Most Read from Bloomberg Brent futures traded about 8% higher after topping $80 a barrel earlier, while diesel futures — the engine of the global economy — jumped more than fifth at one point. Bahrain said a ship was on fire in one of its ports, while at ...