US-Iran war, April 9 -- Oil prices rebounded on Thursday, April 9, after falling over 15% in the previous session, as the uncertainty surrounding a fragile two-week ceasefire in the Middle East fuelled concerns that energy shipments through the key Strait of Hormuz could continue to face disruptions.

Brent crude futures gained $1.96, or 2.07%, to $96.71 a barrel, while US West Texas Intermediate (WTI) crude advanced $2.60, or 2.75%, to $97.01 a barrel.

Meanwhile, back home, crude oil prices on the Multi Commodity Exchange (MCX) also witnessed a similar upward movement. MCX crude oil prices surged as much as 2.62% to Rs.9,090 per barrel on Thursday.

Brent crude oil prices have dropped by more than 11% this week, driven by expectations t...