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The warning comes just days after U.S. and Iranian officials held diplomatic talks in Oman on Feb. 6, following President Donald Trump’s repeated threats on Tehran with airstrikes.

An oil exchange-traded fund posted its biggest daily inflow since the pandemic as investors bet that prices will continue to rally as tensions between the U.S. and Iran simmer.

Last week’s speculations about escalating tensions between Iran and the U.S. prompted a rush from charterers to secure vessels ahead of any potential supply disruption, shipbrokers said.

The U.S. sanctions aim to prevent the targeted Iranians from doing business with Americans or accessing U.S. accounts. The targeted vessels are from Palau, Panama and other jurisdictions.

In the shale oil fields of Texas, North Dakota and New Mexico, executives are unlikely to change their capital budgets based on abrupt price moves from U.S. military strikes on Iran.

The war between Israel and Iran has raised concerns that Iran could retaliate by trying to close the Strait of Hormuz, the world’s most important oil chokepoint.

Tanker rates extended gains as tensions in the Middle East ratchet higher, with shipowners demanding bigger fees to call at ports in the Persian Gulf after the U.S. launched strikes on Iran.

President Donald Trump demanded that energy producers push down crude prices following U.S. military strikes on Iran.

Global markets appeared to take the U.S. strike against nuclear targets in Iran in stride as investors watched June 23 to see how Iran will react.