The United Kingdom has said that calming the conflict involving Iran is the most effective way to bring global oil prices back to normal. Defence Secretary John Healey explained that tensions around the Strait of Hormuz have pushed crude oil prices close to $100 per barrel.

Healey noted that reports suggest Iran may be attempting to mine the important shipping route, through which nearly one-fifth of the world’s oil supply passes. European defence ministers discussed the issue during talks among the E5 group, focusing on security risks to international shipping.

The UK said it has certain autonomous systems in the region that could help detect sea mines, while the mine-hunting vessel HMS Middleton recently returned to Britain for maintenance. Concerns over tanker safety have increased after attacks on vessels near the Iraqi coast.

Officials believe that lowering tensions in the region would quickly ease the blockade and stabilize oil markets. The United States and other allies are also considering measures to protect commercial ships if the conflict reduces.