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The fear of an escalation of the conflict in the Middle East has affected the global fuel market.
Brent crude oil futures rose 1% to $81 a barrel from $79.
The stock market volatility started after Sunday's events where Hezbollah launched 320 rockets and drones towards northern Israel. In response, the Israeli military said it struck 40 bases of the militant group in Lebanon where it deployed about 100 aircraft.
Experts say that prices will continue to rise while profits from this situation will remain limited.
To help the market, the US Federal Reserve approved a cut in interest rates, which was reflected in a 2 percent increase in the profit rate.
On the other hand, investors remain wary of the actions of the Organization of the Petroleum Exporting Countries (OPEC) and its allies, or OPEC+, which has plans to increase production this year.
"Currently strong US demand and SPR stockpile replenishment appear to be the only support for oil prices against the risk of OPEC oversupply. If OPEC+ were to delay the planned October production increase, oil prices could receive support short term.
This price increase comes after last week's decline as a reflection of the decline in demand for fuel from major economies. In this situation, the US Department of Energy bought about 2.5 million barrels of oil to help replenish the Strategic Petroleum Reserve, while soon after that prices began to rise due to the conflict.
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