Iran has set the official selling price (OSP) of its Iranian Light grade for its Asian buyers in February at a premium of $3.35 a barrel above the Oman/Dubai average, up 10 cents from the previous month, an industry source said on Monday.

Oil prices had surged after the killing of an Iranian commander by a U.S. drone strike and the launch of Iranian missiles in retaliation, but then slumped as the United States and Iran stepped back from the brink of direct conflict.

Global benchmark Brent touched a near four-month high above $70 before ending last week below $65, although the situation in the Middle East remains tense.

Four Iraqi soldiers were wounded on Sunday in an attack on an Iraqi air base where U.S. troops have been based, the Iraqi military said.

“Geopolitical tension will be the focus for investors this week,” ANZ Research said in a note.

Meanwhile, expectations of thawing trade tensions between the United States and China, the world’s two biggest oil consumers, have offered support for prices.

A U.S.-China trade deal is due to be signed in Washington on Wednesday.