WASHINGTON (dpa-AFX) - Crude oil prices rebounded on Thursday, after closing at 5-month lows in the previous session, as reports about attack on oil tankers in the Gulf of Oman suggested a likely fall in crude supply in the international market.
Oil prices tumbled on Wednesday after data showed another jump in U.S. crude inventories and on rising concerns about prospects of a fall in energy demand due to global slowdown.
Prices moved up north today on news that multiple tankers were seriously damaged in the Gulf of Oman following an attack this morning.
West Texas Intermediate Crude oil futures for July ended up $1.14, or 2.2%, at $52.28 a barrel, after hitting a high of $53.45 a barrel in the session.
Brent crude oil futures were up $1.35, or about 2.2%, at $61.32 a barrel around mid afternoon.
On Wednesday, West Texas Intermediate Crude oil futures for July ended down $2.13, or about 4%, at $51.14 a barrel, the lowest settlement price since mid January, 2019.
According to the International Association of Independent Tanker Owners, the two tankers attacked in the Gulf of Oman this morning were both hit 'at or below the waterline, in close proximity to the engine room while underway.' The attacks 'appeared to be well-planned and coordinated,' added the source.
U.S. Secretary of State Mike Pompeo has reportedly blamed Iran for the 'blatant assault' on oil tankers in the Gulf of Oman.
He charged Iran of working to disrupt the flow of oil through the Strait of Hormuz and that the attacks are a deliberate part of a campaign to escalate tension. The U.S. will defend its forces and interests in the region, he added.
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