U.S. crude oil prices moved higher on Thursday as traders weighed the risk of further supply disruptions in the Middle East. West Texas Intermediate (WTI) futures for November delivery climbed $1,58 to $96,67 a barrel, while Brent crude for December delivery slipped 54 cents to $105,52.
Concerns intensified after a Singapore-registered vessel was sunk in the Strait of Hormuz, a key shipping route for global oil supplies. The incident added to fears that escalating regional tensions could prolong disruptions and delay a broader recovery in energy flows.
Supply concerns are also being reinforced by a warning from the International Energy Agency that tight diesel market conditions could persist well into next year. Meanwhile, fresh attacks targeting Saudi Arabia have raised further questions about the stability of regional oil production and exports.
To contain rising prices, the U.S. administration is reportedly considering easing sanctions on vessels involved in transporting Russian oil. However, uncertainty over shipping routes and the outlook for regional tensions continues to cloud the market. For now, oil prices remain sensitive to any developments that could affect supply through the Strait of Hormuz.
