Oil prices continue to rise Tuesday morning after a sharp rise Monday, which was largely due to a significant escalation of the conflict in the Middle East.

Accordingly, the September Brent crude oil futures reached $84.78 per barrel on the ICE Futures stock exchange in London, up $1.48 (1.78%) from their previous close. On Monday, they had risen $7.29 (9.59%) to $83.30 per barrel.

And the August WTI crude oil futures went up $1.62 (2.07%) to $79.76 per barrel on the New York Mercantile Exchange (NYMEX). In the previous trading session, their price had risen by $6.73 (9.42%) to $78.14 per barrel.

Both contracts are at their highest levels since their signing on June 17.