U.S. oil prices already jumped last week, which could cause prices at the pump to rise about 20 cents a gallon in the coming weeks, according to one estimate.

Oil prices climbed in early Asian trade on Monday after Israel and Iran launched fresh attacks on Sunday, heightening fears that escalating battle could trigger a broader regional conflict and widely disrupt oil exports from the Middle East.

Oil climbed early Monday with investors squarely focused on escalating geopolitical tensions as Israel and Iran continue to bombard each other with no sign of a pause.