Oil is likely to rise by $3-5 per barrel when trading resumes on Sunday evening after the U.S. attacked Iran at the weekend, market analysts said, with gains expected to accelerate only if Iran retaliates hard and causes a major oil supply disruption.

Amid the ongoing conflict, gas prices have already been increasing, with analysts warning of further hikes in the coming months.

Oil market braces for price surge after U.S. attacks on Iranian nuclear facilities. Analysts predict disruptions to Middle Eastern oil infrastructure.