Oil prices climbed in early Asian trade on Monday after Israel and Iran launched fresh attacks on Sunday, heightening fears that escalating battle could trigger a broader regional conflict and widely disrupt oil exports from the Middle East.

Stock markets in Asia moved higher at the start of trading on Monday, pulling back some of their losses from the end of last week. Oil prices surged as the conflict between Israel and Iran continued to escalate.

U.S. oil prices already jumped last week, which could cause prices at the pump to rise about 20 cents a gallon in the coming weeks, according to one estimate.