On Wednesday oil prices climbed sharply, around six percent.
Fresh strikes in the region put at risk the US-Iran ceasefire.
Tankers kept sailing through the Strait of Hormuz, maintaining supply flows.
President Donald Trump claimed the ceasefire had collapsed, increasing pressure to markets.
Analysts alerted increased volatility could send prices soaring.
The price surge reflected elevated risk to shipping routes and uncertainty over the ceasefire.
Traders observed the combined effect of the strikes and political statements on the market.