Oil prices rose today, recovering some of yesterday’s losses, as investors remained nervous that Israel’s war against Hamas could escalate into a wider conflict in the oil-exporting region, causing potential supply disruptions, Reuters reports.

“The market is up on an adjustment after a drop in the past two sessions and on nagging fears of possible supply disruptions in the Middle East,” said Yuki Takashima, economist at Nomura Securities.

Both benchmarks fell more than two per cent on Monday as diplomatic efforts in the Middle East, the world’s biggest oil-supplying region, intensified to contain the conflict between Israel and Hamas, easing investor worries about supply disruptions.