Brent crude futures rose $1.13, or 1.1%, to $103.35 a barrel, while West Texas Intermediate crude futures climbed $1.08, or 1.2%, to $91.40 a barrel. Both benchmarks had fallen more than 2% on Wednesday.
Oil prices have risen by more than 40% compared to what they were before the United States and Israel launched their attacks on Iran on February 28, prompting many countries to ration fuel and take other energy conservation measures.
Market observers expect prices to rise further until free navigation is allowed in the Strait of Hormuz , despite countries' efforts to boost supplies by using their reserve stocks in coordination with the International Energy Agency.
While Tehran has claimed, on more than one occasion, that the strait is open to ships not allied with its enemies, daily shipping traffic has almost completely stopped since the beginning of the war.
