Oil prices had jumped more than 4% on Wednesday as fears of a conflict that would disrupt crude supplies suddenly swept the market.

“Florida gas prices remain in the same 30-cent range that Florida gas prices have fluctuated within since September,” AAA spokesperson Mark Jenkins said in a statement. That range has kept retail fuel prices relatively predictable for months, despite significant global fluctuations in oil markets.

Concerns over slowing U.S. demand were exacerbated by softer-than-expected private payrolls data, which showed the labor market was cooling. The print came just days before key nonfarm payrolls data for May, which is due on Friday.

Oil prices edged higher on Thursday to their highest in more than two months, after U.S. President Donald Trump said U.S. personnel were being moved out of the Middle East, which raised fear that escalating tensions with Iran could disrupt supply.

Oil prices were steady on Thursday morning, after rising about 4 per cent on Wednesday amid signs of escalating tension between the US and Iran. Brent, the benchmark for two thirds of the world's oil,

Oil prices edged lower on Thursday, as traders assessed whether the previous day's jump to the highest prices in more than two months had adequately priced in risks for crude oil supply from mounting tensions in the Middle East.