The Iran war has forced oil producers in the Middle East to cut supply, putting further upward pressure on crude prices.

Oil prices surged early Monday, briefly trading near $120 a barrel, as the Iran War threatened to cause a full-blown global energy crisis.

The U.S. ordered non-emergency government staff to leave Saudi Arabia as the widening Iran war rattled global markets.

Finance ministers met to discuss the impact of surging oil prices following fears of a lengthy disruption to supplies.