Oil prices surged Wednesday as renewed U.S- Iran hostilities led to worries the Middle East conflict was flaring again, scuttling hopes for peace and normalization of energy shipments through the Strait of Hormuz.

Oil prices rose Wednesday morning from the previous session's sharp losses as new U.S.-Iran counterstrikes reinforced the vulnerability of Middle East ceasefires and the heightened volatility across energy markets.

Oil futures plunged Tuesday as Israel and Iran were back to their truce, returning the Middle East to a state of calm, even as U.S. President Donald Trump threatened avenging Tehran's shooting down of a U.S. military helicopter.

Oil futures slipped Tuesday morning after Israel and Iran agreed to halt attacks on each other, reversing course from the previous trading day which saw a brief price rally sparked by a short-lived flareup of hostilities between the countries.

Crude and product futures edged higher Monday after renewed military exchanges between Israel and Iran, although the market settled off the highs after U.S. President Donald Trump urged for restraint and Tehran confirmed no further...

Crude oil futures jumped more than 5% in early morning trade on Monday after Israel and Iran exchanged missile attacks for the first time since a ceasefire was declared in early April.

Oil prices fell for a second day in a row Friday on lingering hopes for a diplomatic breakthrough to the U.S.-Iran war and reopening of the Strait of Hormuz to energy shipments.