International oil prices have resumed their rise as escalating attacks in the Middle East are adding to uncertainty about energy supplies from the Persian Gulf. The new tensions threaten to prevent oil exports from returning to pre-war levels, at a time when markets are facing the risk of further disruptions.

Brent crude is nearing $107 a barrel, after a 0.9% decline on Tuesday. Meanwhile, U.S. West Texas Intermediate (WTI) crude is trading near $95 a barrel.

The price increase is largely due to the escalation of Iranian attacks on tankers in the Strait of Hormuz, as well as the ongoing attacks by Houthi rebels on Saudi Arabia. These developments have revived concerns about serious disruptions to global oil supplies.

Although energy flows from the Persian Gulf have begun to recover, the situation remains fragile and any new escalation could affect exports and prices in international markets.

The attacks on Saudi Arabia are increasing pressure on Washington to bolster support for the kingdom, one of the United States' key allies in the Middle East.

US President Donald Trump said he may ask Turkish President Recep Tayyip Erdogan to join the response to Houthi rebel attacks on Saudi Arabia.

According to reports, last week Houthi rebels attacked Riyadh's main airport, while Saudi-backed forces launched a military operation to recapture rebel-held territory in Yemen.

The developments have raised fears of an expansion of the conflict and further attacks on the region's critical infrastructure.