Oil prices wobbled and stock markets wavered on Monday as traders awaited Tehran’s response to US strikes on Iranian nuclear sites over the weekend, the AFP reported on Monday.

According to the AFP, US and European stocks retreated while Asian equities were mixed, with markets keeping a close eye on whether Iran will block the crucial Strait of Hormuz, which carries one-fifth of global oil output.

When trading opened on Monday, international benchmark crude contract Brent and US equivalent WTI both jumped more than four percent to hit their highest price since January. They later dipped briefly into the red and then wobbled, standing up 0.3 percent as Wall Street opened for trading.