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Brent crude futures gained $1.03, or 1.3%, to $77.83 a barrel by
0916 GMT and U.S. West Texas Intermediate crude futures rose 98
cents, or 1.4%, to $72.35, though gains were capped by a
surprise build in U.S. crude stockpiles.
The United Kingdom Maritime Trade Operations (UKMTO) authority
received a report on Thursday that a vessel about 50 nautical
miles east of Oman's coast was boarded by four to five armed
individuals.
The previous day Yemen-based Houthis mounted their largest
attack yet on commercial shipping lanes in the Red Sea and
Israeli strikes in southern and central Gaza also intensified.
The United States and Britain hinted they would take further
measures if the attacks continued. The United Nations Security
Council, meanwhile, passed a resolution demanding an immediate
end to the Houthi strikes
The oil benchmarks had settled lower on Wednesday after a
surprise jump in U.S. crude stockpiles raised concerns over
demand in the world's largest oil market.
U.S. crude inventories rose by 1.3 million barrels to 432.4
million barrels in the week ended Jan. 5, the EIA said on
Wednesday, against analyst expectations for a draw of 700,000
barrels. [EIA/S]
All eyes are now on U.S. inflation data, which will shape views
on how soon the Federal Reserve might cut interest rates.
"Slowing demand, unrest in Middle East and muted price reaction
have producers, consumers and market participants alike feeling
paranoid about oil prices," Barclays said on Thursday as the
bank lowered its 2024 Brent forecast by $8 to $85 a barrel.
Meanwhile, Chinese refiners asked for less Saudi crude oil in
February, people with knowledge of the matter said, despite the
world's top oil exporter announcing its biggest price cut in 13
months.
Looking ahead, China's customs administration will release
December trade data on Friday, giving a full-year picture of
overall demand in the world's largest oil importer.
(Reporting by Ahmad GhaddarAdditional reporting by Colleen Howe
in Beijing and Jeslyn Lerh in Singapore Editing by David
Goodman)
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