Crude oil prices climbed over 2% during the day after US President Donald Trump urged “everyone” to evacuate Tehran, increasing the prospect of deepening unrest in the region.

Ukrainian President Volodymyr Zelenskyy says rising global oil prices following Israeli strikes on Iran will strengthen Russia by increasing its oil revenues, aiding its war effort in Ukraine.

Oil prices rallied Tuesday after Donald Trump urged Tehran residents to evacuate, stoking fresh fears of all-out war as Israel and Iran continued to pound each other with missiles.

Iran called on U.S. President Donald Trump on Monday to force Israel to cease fire as the only way to end the four-day-old aerial war, while Israeli Prime Minister Benjamin Netanyahu said his country was on the "path to victory".

The Israeli military claims its campaign has eliminated high-value targets, including nine senior scientists, and severely damaged Iran’s nuclear infrastructure. Iranian authorities confirmed damage to four critical buildings at the Isfahan uranium conversion facility,

The ongoing Israel Iran war has unleashed not only a massive aerial assault with missiles and drones causing heavy destruction in both the countries but could potentially impact global economy including India with whom the two have trade relations.

The past two years of escalating tensions in the Middle East have taught oil traders to be sanguine about the risk of disruption to oil supplies.

Israel's "preemptive" strikes against Iran targeting the country's nuclear program and killing top military officials could have far-reaching implications for Ukraine and could boost Russia's ability to continue its full-scale invasion,