Oil prices bounced higher on Thursday while Asian stocks fell, as new US strikes on Iran marked the latest test of a shaky ceasefire in the Middle East war.

Oil prices rebounded after U.S. strikes on Iranian targets near the Strait of Hormuz revived fears that the fragile path toward reopening the chokepoint could unravel.

Asian stocks and oil futures were mixed on Tuesday after fresh US strikes on Iran threatened fragile negotiations to reopen the Hormuz strait.