Goldman Sachs Analyst Daan Struyven said to Bloomberg that a $5 to $10 risk premium should be added into the Oil prices when the Israel-Iran situation further escalates.
Iran has already come out on Monday morning to say it is not looking for further escalation of tensions in the Middle East.
Overall risk on sentiment rolls through markets after tensions in the Middle East are easing.
Upside risk to Oil prices remain in the coming weeks in case of any Oil embargoes against Iran as the country is the third-largest producer within OPEC.