Global stocks declined and oil prices rebounded after fresh US strikes on Iranian drone targets near the Strait of Hormuz intensified tensions.

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 plummet and oil prices react sharply as fresh US strikes on Iran raise doubts about a potential peace deal in the Middle East.