Oil prices jumped more than 3% on Thursday after Iran’s ​Revolutionary Guards said they targeted a US airbase in response ‌to a US attack near Bandar Abbas airport.

Brent crude futures rose $3.51, or 3.72%, to $97.8 a barrel, while the more active August contract gained $3.35 or ​3.63%, to $95.6. The July contract is set to expire on Friday.

The ​US West Texas Intermediate futures were up $3.31, or 3.73%, at $91.99.

Both ⁠benchmarks slipped more than 5% to touch their lowest in a ​month in the previous session on the possibility of a US-Iran ​deal to end their war and reopen the Strait of Hormuz.

Iran’s Revolutionary Guards said on Thursday they targeted a US airbase after what they described as an ​early morning US attack near Bandar Abbas airport, Tasnim news agency ​reported.

They warned that any repeat of what they called aggression would draw a “more decisive”.

The ‌US ⁠military launched new strikes in Iran targeting a military site that officials believed posed a threat to US forces and commercial maritime traffic in the strait, a US official told Reuters.

“Oil supply remains constrained, and ​key sticking points ​have yet ⁠to be resolved,” ANZ commodity strategist Daniel Hynes said in a note.

In the US, crude oil stockpiles ​fell by 2.8 million barrels last week, the sixth ​straight ⁠week of declines, according to American Petroleum Institute data.

Official inventory data from the US Energy Information Administration is due on Thursday, a day later ⁠than ​usual due to the Memorial Day holiday ​on Monday.