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.

Oil prices jumped over 2% on Tuesday as escalating Iran-Israel conflict stoked fears of supply disruption in the Middle East. Brent crude rose $1.17, or 1.6%, to $74.40 a barrel, while U.S. West Texas Intermediate

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.