Drones struck oilfields in Iraqi Kurdistan on Thursday, with officials pointing to Iran-backed militias as the likely source of attacks this week that have slashed the region's oil output by more than half.

Crude oil futures bounced back on surprisingly strong US economic data, falling US stockpiles, and drone attacks on oil infrastructure in Iraq's Kurdistan region.

BAGHDAD (AP) — Drones targeted oil fields in Iraq’s semi-autonomous northern Kurdish region Wednesday, the latest in a series of attacks in recent days that have put several oil facilities out of commission.