Toye Faleye/Reuters
Oil prices rose more than 8% to their highest in months on Monday amid increased military activity between Iran and Israel.
Tankers were affected, and shipments from the producing region were disrupted.
Following the regional unrest, Brent crude futures struck a high of $82.37 a barrel and were at $79.34, up $6.47, or 8.88%, by 2305 GMT.
Similarly, U.S. West Texas Intermediate crude jumped $5.36, or 8%, to $72.38 a barrel after touching a high of $75.33 earlier.
Israel launched a new wave of strikes on Tehran on Sunday, and Iran responded with more missile barrages, a day after the killing of Supreme Leader Ali Khamenei pitched the Middle East and the global economy into deepening uncertainty.
At least three tankers were damaged off the Gulf coast, and one seafarer was killed as Iranian retaliation for U.S. and Israeli strikes on Iran exposed ships to collateral damage, shipping sources and officials said on Sunday.