Oil prices rose on Thursday after drones struck Iraqi Kurdistan oil fields for a fourth day, pointing to continued risk in the volatile region.

A drone attack targeted an oilfield in Iraqi Kurdistan this Thursday, in what represents a big hit that lowers oil output between 140,000 and 150,000 barrels per day.

“The drone attacks in Kurdish energy sites grew out of a sequence of drone attacks since 19 June on Kurdish security forces, where Iraqi militias were claiming that Kurdistan was supporting Israeli and US strikes on Iran,” Michael Knights, a senior fellow at The Washington Institute, told MEE.