(RTTNews) – Oil prices rebounded on Thursday after falling more than 5 percent in the previous session to reach their lowest levels in a month on hopes of a possible agreement between the United States and Iran to end the war and reopen the Strait of Hormuz.
Brent crude futures for August delivery were up 2.2 percent at $94.29 a barrel, while WTI crude futures for July delivery climbed 2.2 percent to $90.58.
As fragile talks with Iran continue, the U.S. military shot down four Iranian drones and struck a control center in the southern port city of Bandar Abbas to prevent a fifth drone launch, stoking fears of further disruptions to commercial shipping through the crucial waterway.
Iran’s Islamic Revolutionary Guard (IRGC) said that it targeted a U.S. airbase in Kuwait in response to the latest American aerial strike.
Earlier, U.S. President Donald Trump Indicated that negotiations with Iran were still facing major sticking points and warned Oman against attempting to influence control over the Strait of Hormuz.
Hours later, the U.S. Treasury sanctioned the Persian Gulf Strait Authority established to control the Strait of Hormuz, dealing a fresh blow to prospects for a negotiated settlement.
Meanwhile, after Iran’s state TV published what it purported to be a draft of an initial, unofficial framework for a memorandum of understanding between the U.S. and Iran, the While House adamantly denied its accuracy.
Hama’s armed wing confirmed that its military chief, Mohammed Odeh, was killed in an Israeli strike in Gaza, following months of intelligence tracking.
Odeh was killed alongside his wife and children in a building that served as a hideout in a residential area. More than 20 others were reportedly inured in the missile strike.
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