Oil prices traded higher on Thursday after ending little changed in the New York trading session overnight.
Benchmark Brent crude futures were up 0.9 percent at $82.01 a barrel while WTI crude futures were up 1.6 percent at $75.86.
As rising tensions threaten global oil and LNG supplies and push regional tensions to a new level, there are no signs of de-escalation yet in the Middle East conflict.
Iran claimed it struck a U.S. oil tanker in the northern Persian Gulf, raising fears of wider conflict and Hormuz disruption.
According to Iran’s Mehr news agency, the military targeted the tanker with a missile and set it on fire.
The claim came shortly after the United States submarine sank an Iranian warship off the southern coast of Sri Lanka.
In a Pentagon briefing, U.S. Defense Secretary Pete Hegseth said the strike on the warship was the first such attack on an enemy since World War II.
Meanwhile, two Russian oil cargoes that had been signaling East Asia as a destination have switched to India in a move to mitigate the impact of supply chain disruptions, according to ship-tracking data compiled by energy intelligence firms.
Oil Prices Inch Higher As Iran Claims Missile Strike On US Oil Tanker In Gulf
2026-03-05 09:44:44
