Oil prices rose on Wednesday from the previous session’s two-month lows, as the market swung between hopes for a de-escalation in the US-Israeli war on Iran and concerns about attacks on shipping in the Strait of Hormuz, AFP reports.

Also on Wednesday, a regional governor said a drone attack caused a fire in the port area of Ust-Luga by the Baltic Sea in northwest Russia, injuring three workers.

Brent futures climbed 52 cents, or 0.6 per cent, to $92.01 a barrel by 0730 GMT. US West Texas Intermediate crude rose 16 cents, or 0.2pc, to $86.20.

Recent data showed little sign of fewer attacks in November, after 37 ships were attacked in October, the highest monthly total since the start of the Middle East war, according to data from the Washington Institute for Near East Policy.