Investing.com - President Donald Trump has demanded that "everyone" should "keep oil prices down" in the wake of U.S. strikes on Iranian nuclear sites over the weekend.

In a social media post, Trump said: "EVERYONE, KEEP OIL PRICES DOWN. I’M WATCHING! YOU’RE PLAYING RIGHT INTO THE HANDS OF THE ENEMY. DON’T DO IT!"

Oil prices eased on Monday, erasing earlier gains, as U.S. strikes on Iran ramped up fears of supply disruptions in the Middle East.

Brent crude futures for August had edged down to $75.43 per barrel by 09:39 ET (13:39 GMT) and West Texas Intermediate crude future had slipped by 0.2% to $73.69 a barrel. Both of the contracts erased some earlier gains.

Both contracts had initially surged as high as 4% to four-month highs, with Brent briefly rising as high as $81 a barrel. But oil retreated amid uncertainty over just how Iran will respond and what the White House’s stance was towards a conflict with Tehran.

The U.S. carried out a series of strikes targeting three key nuclear facilities in Iran on Saturday, drawing ire and threats of retaliation from the Islamic republic. Iran was seen launching some attacks against Israel in the early hours of Monday.

Iranian media reported that the country was considering blocking the Strait of Hormuz in retaliation for the strikes.

Such a move stands to cut off a key shipping lane in the Middle East, and could severely disrupt oil and gas supplies from the region.

The renewed Israel-Iran conflict, which entered its 11th day on Monday, has been a major point of support for oil, as markets feared potential supply disruptions.

Hostilities between Tehran and Washington could also see the latter impose more sanctions against Iran’s oil industry, further limiting supplies to parts of Asia and Europe.

Markets are now focused on how Iran will respond, with reports suggesting that Tehran could target U.S. military bases in the Middle East.