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FrontRow · Aug 13, 2026

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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.

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.

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