Oil prices climbed over 2% on Thursday after a cargo ship was struck by an unidentified projectile near Oman, increasing concerns over shipping safety in the Strait of Hormuz and possible disruptions to global oil supply chains.
The attack forced the International Maritime Organization (IMO) to suspend an operation that was helping ships and seafarers pass safely through the strategic waterway, raising fresh uncertainty over efforts to restore normal shipping after a preliminary U.S.-Iran agreement to end months of conflict.
Brent crude futures rose $1.52, or 2.1%, to settle at $75.26 a barrel, while U.S. West Texas Intermediate (WTI) crude gained $1.58, or 2.3%, to settle at $71.92 a barrel. U.S. gasoline futures jumped about 5%, while diesel futures gained around 4%.
According to the United Kingdom Maritime Trade Operations (UKMTO), the vessel was struck on its starboard side while sailing southeast of Oman by an unknown projectile.
After markets closed, two U.S.
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