Oil rises from two-month low as Hormuz shipping attacks offset Iran truce hopes
Oil prices rose on Wednesday after falling to two-month lows in the previous session, as the market swung between hopes for a de-escalation in the Iran war and concerns about ongoing attacks on shipping in the Strait of Hormuz. Brent futures climbed 71 cents, or 0.78%, to $92.20 a barrel by 0119 GMT. US West Texas Intermediate (WTI) crude rose 49 cents, or 0.57%, to $86.53. New data showed that 37 ships were attacked in the Strait of Hormuz and surrounding waterways in October, the highest monthly total since the start of the war, according to the Washington Institute for Near East Policy.