Oil climbed — after slumping by more than 4% on Tuesday — as Israel said it would make its own decision on how to attack Iran, keeping open the possibility that energy infrastructure may be targeted.

Brent gained toward $75 a barrel, while West Texas Intermediate was near $71. Both benchmarks sank in the prior session after a report that Israel had agreed to avoid oil facilities in its planned response to Tehran’s recent missile strike. On Tuesday, Israeli Prime Minister Benjamin Netanyahu asserted that the country was free to act as it chose in a counter-strike.

Crude has had a roller-coaster ride this month, with prices buffeted by tensions in the Middle East, as well as China’s efforts to revive growth in the largest importer. Traders have also been weighing the market’s outlook into next year, with the International Energy Agency flagging prospects for a global glut.

While Brent’s prompt spread — the difference between its two nearest contracts — remains in a bullish, backwardated structure, the gap has narrowed. The differential was 38 cents a barrel, compared with 60 cents in mid-September, suggesting less-tight conditions.

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