India, Oct. 28 -- Oil prices climbed on Wednesday as renewed security concerns in the Middle East overshadowed hopes of a diplomatic breakthrough between the United States and Iran. Reports of Houthi attacks on Saudi Arabia and the possibility of fresh US military action against Tehran kept traders focused on the risk of further disruptions to global crude supplies.

Brent crude, the international benchmark, rose 0.87% to $114.87 a barrel by 2 pm UAE time. US West Texas Intermediate (WTI) gained 1.59% to $101.49 a barrel. Both benchmarks had risen by more than 2% earlier in the session. The recovery followed a decline of around 1.6% on Tuesday, leaving prices broadly flat for the week.

Houthi attacks add to oil supply concerns

Fresh dev...