Analysts have been left scratching their heads over the outlook for oil prices amid Israel and Iran's conflict. U.S. President Donald Trump on Tuesday called for an "unconditional surrender" from Iran,

Oil prices steadied on Wednesday, after a gain of 4% in the previous session, as markets weighed up the chance of supply disruptions from the Iran-Israel conflict and as they ponder a direct U.S. involvement.

The Israeli strikes in Iran have killed over 200 people and injured hundreds of others, Iran’s Health Ministry said Sunday. Human rights groups say the numbers are probably much higher. Iranian media reported explosions and heavy air defense fire in the capital of Tehran and explosions in the northwestern city of Tabriz on Tuesday.