Japan’s current account surplus rose to the highest on record, supported by a widening trade and income surplus, with higher oil prices expected to push it lower in coming months. Data on the nation’s balance of payments with the rest of world showed that the surplus climbed in March to ¥4.7 trillion ($29.8 billion), up 29.1% from a year earlier, the Finance Ministry said Wednesday. The trade surplus increased 35.9% in March from a year earlier on the back of exports of semiconductors and other electronic components, while direct investment income boosted the income surplus, according to the ministry. On a seasonally adjusted basis, the current account surplus advanced but was still below the level in September, when it was the highest in data back to 1996. Wednesday’s report suggests that the nation has benefited in recent months from strong global artificial intelligence-related demand and a weaker yen. But the escalating conflict in the Middle East has since darkened the outlook for the economy.…