Oil prices fell nearly 2% on Wednesday after gaining earlier in the session as investors weighed the chance of supply disruptions from the Iran-Israel conflict and potential direct U.S. involvement. Brent crude futures fell $1.

The Israeli strikes in Iran have killed over 200 people and injured hundreds of others, Iran’s Health Ministry said Sunday. Human rights groups say the numbers are probably much higher. Iranian media reported explosions and heavy air defense fire in the capital of Tehran and explosions in the northwestern city of Tabriz on Tuesday.

The initial round of Israeli attacks sent oil prices 7 percent higher on Friday. Still, at about $74 a barrel, Brent crude remains below the $80 average for 2024, the Deutsche Bank analysts wrote. The market continued to waver, though, and by Monday, oil prices had fallen about 3 percent.