Oil steadied after a three-day rally as President Donald Trump said renewed attacks on Iran would be short-lived while reiterating his claim that the US controls the Strait of Hormuz.

West Texas Intermediate traded near $91 a barrel after surging 9% over the past three sessions. Brent settled below $96 on Wednesday.

Fighting between the US and Iran intensified after a period of relative calm, triggering a fresh jump in energy prices as fears grow of an open-ended war. Asked how long the US bombing campaign could continue, Trump said "I don't think too long," although the president added that "we're prepared to do another one."