05:45 AM EST, 02/04/2026 (MT Newswires) -- Crude oil prices saw gains on Wednesday following actions by the U.S. and Iran against each other, renewing concerns about possible supply disruptions in the Middle East.

Brent crude at last look rose 0.5% to US$67.67/barrel and West Texas Intermediate crude climbed 0.7% to $63.63/b. This comes after the U.S. shot down an Iranian drone that approached a U.S. aircraft carrier in the Arabian Sea, Reuters said in a Wednesday report, citing a statement by the U.S. military.

Separately, a group of Iranian gunboats approached a U.S.-flagged tanker north of Oman, the report said, citing maritime sources and a security consultancy.

These developments heightened concerns about potential disruption to oil flows through the Strait of Hormuz or output from Iran, Reuters said in the report. Members of the Organization of the Petroleum Exporting Countries such as Saudi Arabia, Iran, the United Arab Emirates, Kuwait and Iraq export most of their crude via the Strait of Hormuz, mainly to Asia.

Market sources, citing data from the American Petroleum Institute, also told Reuters that U.S. inventories fell by more than 11 million barrels last week. Official data is due on Wednesday.