Mubasher: Oil futures settled higher on Thursday, as the situation in the Arabian Gulf became more complicated.

July Nymex WTI rose $1.14, or 2.2%, to close at $52.28 per barrel, the lowest level since 14 January.

Earlier today, two “Japan-related” oil carriers near the strategic Strait of Hormuz were reportedly attacked, amid heightened tensions between Iran and the US.