The price of US WTI oil has risen sharply in the past week, rising further - at times by around 25 percent - on Monday. However, the price fell back during the evening and was down to $89 a barrel later in the night, compared to a peak of around $115. Brent oil has had a similar trend, falling to around $90 a barrel overnight.
Donald Trump claimed on Monday that the war against Iran could soon be over, which was followed by falling oil prices.
But the worries are far from over. The market remains unstable due to the war and the near-stoppage of traffic through the Strait of Hormuz.
