Brent crude, the main international index, rose about 0.9%, after mutual attacks by the US and Iran over the weekend raised doubts about a return to normalcy for shipping in the Strait of Hormuz.
Brent crude futures for August delivery stood at $73.21 a barrel, 127 cents higher than the day before the US and Israel launched their war against Iran on February 28.
Asian stock markets were mixed, with losses in Tokyo and Seoul and gains in Hong Kong and Taipei.
Japanese and Korean stocks tied to the Al boom saw some of the biggest losses amid heated debate over whether tech companies’ massive investments in emerging technology will deliver results.
South Korean memory chip giants Samsung Electronics and SK Hynix fell about 5% and 4%, respectively.
Separately, US Central Command announced strikes against Iran on Friday and Saturday, citing Iranian attacks on two merchant ships in the Strait of Hormuz, which in peacetime serves as a conduit for about a fifth of global oil and liquefied natural gas trade.