Oil prices jumped again as the US carried out a a fresh wave of attacks on Iran, targeting a military site in the port city of Bandar Abbas.
Four Iranian drones which "posed a threat around the Strait of Hormuz" were also shot down according to the US Central Command.
Following the attacks, the BBC reports, global oil benchmark Brent rose by 3.75% to $97.83 (£73.15) a barrel, while US-traded crude was 4% higher at $92.22.
Global energy prices have repeatedly risen and fallen since the beginning of the war on February 28 when Iran responded to US and Israeli strikes by effecting shutting the Strait of Hormuz shipping route.
The latest strikes come despite a ceasefire between the countries, with Iran branding the attacks "a grave violation".
Its the second wave of attacks from the US this week, after it earlier targeted Iranian missile sites and boats attempting to lay mines in the strait.
The US claimed those attacks were "to protect our troops from threats posed by Iranian forces".