Oil prices soared on Tuesday, recouping some of the losses from the previous day, as investors continued to be concerned that the Israel-Hamas confrontation could spread into a larger battle in the oil-exporting area, potentially disrupting supply.

Brent crude advanced by 0.5%, to $90.33 per barrel meanwhile U.S. West Texas Intermediate crude futures soared by 0.5% to $85.95 per barrel.

The world's largest oil-supplying region, the Middle East, increased diplomatic efforts on Monday to control the war between Israel and Hamas, allaying investor concerns about supply interruptions and causing both benchmarks to decline by more than 2%.

According to a preliminary Reuters poll released on Monday, U.S. oil stockpiles increased last week while distillate and gasoline inventories decreased.

The survey was done ahead of reports from the American Petroleum Institute, an industry group, which were scheduled to be released at 2030 GMT on Tuesday, and the Energy Information Administration, the U.S. Department of Energy's statistical division, which were scheduled to be released at 1430 GMT on Wednesday.