Cargo movement through the Strait of Hormuz has marked a small decline, but there’s been no major disruption to key oil infrastructure so far, easing some of the worst fears about the ongoing conflict between Iran and Israel.

Brent crude futures rose 1.4% to $74.24 per barrel while U.S. West Texas Intermediate crude futures gained 1.2% to $71.06 per barrel, as of 5.03 am ET.