You can see it when you fill up your tank: the mutual attacks by Israel and Iran drove up oil prices last week.

The war between Israel and Iran is keeping the oil markets in check. Overall, however, the situation has calmed down somewhat after Friday's significant price jumps.

On Monday morning, a barrel (159 liters) of North Sea Brent crude for delivery in August cost $74.93, up 72 cents from Friday. The price of a barrel of US WTI crude for delivery in July rose by 89 cents to $73.87.

During the night, the Brent price initially approached its Friday high of just over $78, when it temporarily jumped by around $8 to $78.50 following Israel's attack on Iranian nuclear and military facilities. The WTI price follows a similar pattern.

Israel and Iran continue to carry out air strikes against each other. According to Stephen Innes of SPI Asset Management, the fact that oil and thus also the stock markets are still not in "panic mode" is also due to the fact that the Strait of Hormuz, a key shipping and oil transport route, is still open. Furthermore, the US has not yet actively intervened in the war.