Oil rose on Thursday recent deadly attacks on vessels in the Gulf of Oman and the Red Sea, and as a spill near Oman continued to spread.
Futures for international benchmark Brent crude for October delivery gained 1.01% to $88.09 a barrel. U.S. West Texas Intermediate futures for September advanced 1.15% to $82.31 per barrel.
Oman's coastline has reportedly started to be affected by a massive oil spill caused by a leaking tanker that ran aground June 30 carrying an estimated 800,000 barrels of Russian oil and is under international sanctions, according to Reuters. It's leaking near a nature reserve that's home to wildlife including Arabian Sea humpback whales and Socotra cormorants, Reuters reported.
Meanwhile, the International Energy Agency said Wednesday that global oil demand is set to fall further than previously expected this year, amid a deepening impact from the closure of the Strait of Hormuz.
