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Oil rises on worries over supply disruptions as spill near Oman worsens

* Brent crude up 1.01% to $88.09 after tanker attacks. * Oil spill from grounded tanker reaches Oman coast. * IEA warns demand will fall more due to Hormuz closure. Oil prices rose Thursday after attacks on vessels in the Gulf of Oman and Red Sea, plus a spreading spill from a grounded tanker off Oman carrying 800,000 barrels of Russian crude. Brent gained 1.01% to $88.09; WTI rose 1.15% to $82.31. The International Energy Agency said global demand will fall further this year as the five-month closure of the Strait of Hormuz cuts supply 6.3 million barrels per day year-on-year. Renewed hostilities and maritime disruptions are tightening the market, leaving prices exposed to upside risks, said analyst Christopher Tahir.
August 12, 2026 at 9:59 PML
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