Oil market rebounded on intensified Middle East tension.

International benchmarks for crude oil rose about 2% on Wednesday, 25 October 2023 after Israel escalated military advancement in Gaza while declaring the country is preparing a ground invasion of Gaza. The tension has been threatening the Middle East's stability and oil supply. 

Brent surged $2.06 or 2.3% to close at $90.13/barrel.

WTI added $1.65 or 1.9% to settle at $85.39/barrel.

The gains were capped by the increase in the US commercial crude inventories.