By Monday morning, the price of a benchmark barrel of U.S. oil was up 0.4% at $74.16 after briefly dipping to a loss. Brent crude, the international standard, edged up by 0.2% to $77.17 per barrel. They still remain higher than they were before the fighting began a little more than a week ago, when a barrel of benchmark U.S. crude was close to $68.

President Donald Trump demanded that energy producers keep down oil prices following US military strikes on Iran, which drove prices higher amid fears the attack could provoke a wider conflict in the Middle East.

Amid the ongoing conflict, gas prices have already been increasing, with analysts warning of further hikes in the coming months.