Oil prices steadied on Wednesday, recovering early losses to register moderate gains after the previous session's 4% advance as markets weighed up the chance of supply disruptions from the Iran-Israel conflict and potential direct U.

The Israeli strikes in Iran have killed over 200 people and injured hundreds of others, Iran’s Health Ministry said Sunday. Human rights groups say the numbers are probably much higher. Iranian media reported explosions and heavy air defense fire in the capital of Tehran and explosions in the northwestern city of Tabriz on Tuesday.

The conflict between Israel and Iran has yet to hit tanker or container rates, while prices on the eastbound trans-Pacific may have peaked.