Global oil prices rebounded nearly 4 per cent on Thursday after declining sharply in the previous session, as fresh US military strikes on Iran revived concerns over supply disruptions while uncertainty persisted over the future of the Strait of Hormuz. 

International benchmark Brent crude rose 3.83 per cent to trade at USD 97.91 per barrel. Similarly, US benchmark West Texas Intermediate (WTI) traded around 4 per cent higher at nearly USD 92 per barrel, recovering part of Wednesday’s losses.