MUSCAT : Brent crude futures gained 71 cents, or 0.78 percent, to reach $92.20 per barrel, while US West Texas Intermediate (WTI) crude climbed 49 cents, or 0.57 percent, to $86.53 per barrel.

The recovery comes after oil prices plunged by more than $3 per barrel in the previous session before recovering some of their losses, amid conflicting signals over the possibility of de-escalation in the US-Iran conflict.

Market uncertainty increased after an Iranian security official denied that talks were taking place with the United States, despite earlier American statements suggesting that additional military strikes on Iran might not be necessary.

Meanwhile, security concerns over major shipping routes continued to weigh on market sentiment. Data showed that 37 vessels were attacked in waterways during October, the highest monthly figure since the conflict began. Another 10 attacks have been recorded since the beginning of November.

Adding to market pressures, data from the American Petroleum Institute showed that US crude oil inventories increased by approximately 9 million barrels during the week ending November 6, indicating a significant buildup in stockpiles.

In Russia, oil refining capacity has declined by around 30 percent since late October following renewed Ukrainian drone attacks, raising further concerns over disruptions to global energy supplies.

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