US and Brent crude prices jumped on fears of supply disruption from the Middle East as Iran has repeatedly threatened to close a key shipping route.

The run-up in crude oil futures paused on Monday even after Israel struck two natural gas facilities in Iran over the weekend, raising fears that the war will expand to energy infrastructure and disrupt supplies in the region.

WTI Oil prices are easing on Monday, retracing part of Friday’s nearly 6% surge after slipping from the key $70 level, now holding as resistance. Traders remain on edge over escalating Israel–Iran tensions, most recently encapsulated by US President Donald Trump’s comments outside the White House on Monday.