India, Oct. 14 -- Oil prices rose on Wednesday after attacks on Saudi Arabia's oil industry and ships near the Strait of Hormuz raised concerns about global oil supplies. The increase came after an attack on the headquarters of Saudi state-owned oil company Saudi Aramco and reports of ships being hit in waters near the important shipping route.

Brent crude prices climbed to $106.60 per barrel. Brent crude futures rose by 91 cents, or 0.9%, to $106.60 per barrel at 1110 GMT on Wednesday. US crude oil prices also increased sharply. West Texas Intermediate (WTI), the US oil benchmark, rose by $1.65, or 1.8%, to $95.79 per barrel. This was its highest level in more than two weeks, according to Reuters.

Attacks on ships near the Strait of Ho...