Oil climbs on fresh vessel attacks, Oman spill

August 13, 2026 (MLN): Oil prices climbed on Thursday as fresh attacks on vessels in the Gulf of Oman and Red Sea heightened concerns over potential supply disruptions, while a major oil spill off Oman continued to spread.

Currently, Brent crude futures is down, 0.94%, at $88.80 per barrel, according to data by Mettis Global.

West Texas Intermediate (WTI) crude futures is down by $0.98, or 1.17%, to $82.95 per barrel by [10:13 am] PST.

The oil market also remained under pressure from a large spill off Oman’s coast after a tanker carrying an estimated 800,000 barrels of Russian crude ran aground on June 30.

The leak has reportedly reached Oman’s coastline and is spreading near a protected nature reserve that supports several marine and bird species, according to CNBC.

Meanwhile, the International Energy Agency (IEA) lowered its outlook for global oil demand growth, citing the growing impact of disruptions linked to the closure of the Strait of Hormuz.

The agency noted that renewed hostilities and maritime disruptions are weighing on efforts to restore global oil supplies, with output remaining around 6.3 million barrels per day below year-earlier levels in July.

Market concerns have intensified following deadly attacks on vessels in the Gulf of Oman and Red Sea, adding to uncertainty over the security of major energy routes.

Continued uncertainty over the reopening of the Strait of Hormuz could keep oil prices tilted to the upside, particularly if diplomatic efforts to restore maritime traffic face further setbacks.

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