Most of Iran's exported oil goes to China and is carried on so-called "shadow ships," tankers that actively conceal their activities to evade sanctions or other restrictions. The U.S. has recently escalated its sanctions enforcement on shadow fleets in an attempt to limit their activities.

One tanker in the region was ablaze on Monday, at least four others were damaged and about 150 ships were stranded.

By Arathy Somasekhar March 4 (Reuters) - Oil prices rose more than $1 on Wednesday as the U.S.-Israeli war on Iran disrupted Middle East output and halted exports from the region. Brent rose $1.11, or 1.

The US and Israeli attacks on Iran that commenced over the weekend shocked global markets. But a Yahoo Finance analysis of previous moments of geopolitical shock found prices have tended to normalize within weeks.

Global investors reacted to the weekend strikes in the Middle East by selling U.S. stocks in futures markets. Some assets may benefit, however.

Rising oil prices from the U.S.-Iran conflict could push Treasury yields higher, threatening lower mortgage rates and delaying Fed cuts.

Energy prices have surged dramatically since the United States and Israel launched their attack on Iran Saturday, and that will almost certainly translate into bigger profits.Oil prices could retreat further if the United States,

China imports roughly half of its oil from the Middle East.