Global fuel oil prices rose twice in a single day, according to Reuters data reported on Monday. At 10:36am Bangladesh time, Brent crude gained $2.21, or 2.51%, to $90.31 a barrel. US West Texas Intermediate crude rose $1.83, or 2.19%, to trade at $85.23 per barrel.

Analysts said rising tensions around Hormuz created concerns about oil supplies, pushing prices upward. The market impact followed a new US attack in Iran. An attack on Larak Island in the Strait of Hormuz and Tehran’s subsequent retaliatory attack renewed tensions in the Middle East.

The duration of the price increase remains a key market question. Reuters said prices could decline again if the conflict is brought under control quickly. However, if supply operations through the Strait of Hormuz are disrupted for a prolonged period, prices above $90 a barrel could maintain a stronger position.