Oil Rebounds as US Hits Hormuz Targets and Kuwait Repels Drones

Oil advanced, following a drop of more than 5% on Wednesday, on fresh strikes in the Persian Gulf, while Washington and Tehran remained at odds over how to reopen the Strait of Hormuz.

Brent rose toward $97 a barrel, while West Texas Intermediate was near $91. American forces carried out out airstrikes on a military site, and struck other targets near Hormuz, according to a US officia. Separately, Kuwaiti Air Defenses said they were responding to hostile missile and drone threats.