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.

Israel’s attack on Iranian nuclear facilities has escalated to back-and-forth missile volleys that continue as we write.

Oil prices rose again early in Europe as Iran and Israel continued to launch strikes against each other, elevating the risks of longer-term supply disruption.