Oil prices have risen in Asian trade this morning, with Brent crude up by 1.9% at $84.87 (£63.48) a barrel, while US-traded oil rose by 2% at $79.75 according to BBC.
That followed a 9% jump in the price of Brent on Monday as the conflict escalated.
Energy prices on global wholesale markets have swung wildly in recent months as traders reacted to developments in the conflict.
Shortly after the US and Israel attacked Iran on 28 February, Tehran effectively closed the Strait of Hormuz, which around 20% of the world’s oil and liquefied natural gas (LNG) usually passes through.
Despite the latest increases, prices are well below the $120 a barrel mark Brent reached at the end of April.