Oil rebounds from two-month low as Brent rises to $92.20 a barrel

Oil prices rose on Wednesday after falling to their lowest levels in two months during the previous session, amid ongoing attacks on ships in the Strait of Hormuz.

Brent crude futures gained 71 cents, or 0.78 percent, to reach $92.20 a barrel. US West Texas Intermediate crude rose 49 cents, or 0.57 percent, to $86.53.

According to Reuters, the Washington Institute for Near East Policy reported that new data showed 37 ships were attacked in the Strait of Hormuz and surrounding waterways in October, the highest monthly total since the start of the conflict. Ten attacks have been recorded since the beginning of November.

The UK Maritime Trade Operations agency said on Tuesday that another tanker was attacked northeast of a location in the Sultanate of Oman. Meanwhile, Iran's Islamic Revolutionary Guard Corps Navy said in a separate statement that two tankers caught fire after striking naval mines in an "unauthorized route" in the Strait of Hormuz.

Market sources, citing data from the American Petroleum Institute, reported that US crude oil inventories increased last week.