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The Economic Times
The Economic Times
Business

Oil rebounds on uncertainty over Iran peace deal and inventory drawdowns

Iran Oil Strait of Hormuz United States Donald Trump Hormuz

BEIJING: Oil prices rebounded on Thursday after two days of losses on outstanding supply concerns because of the uncertain outlook for an end to the Iran war and a U.S. inventory draw raised worries about the depletion of global stockpiles.

Brent crude futures rose 81 cents, or 0.77%, to $105.83 a barrel by 0055 GMT, and U.S. West Texas Intermediate futures were up 97 cents, or 0.99%, at $99.23.

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