Riyadh: 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 US inventory draw raised worries about the depletion of global stockpiles. Brent crude futures rose 81 cents, or 0.77%, to $105.83 a barrel, and US West Texas Intermediate (WTI) futures were up 97 cents, or 0.99%, at $99.23.

According to Qatar News Agency, both benchmarks dropped more than 5.6% on Wednesday after US President Donald Trump said negotiations with Iran were in the final stages. However, he also threatened further attacks if Iran did not agree to a peace deal.