Oil prices are retreating following gains in the previous session, according to the latest trading data.
January Brent crude futures on the London-based ICE Futures exchange are trading at $95.52 per barrel—down $0.30, or 0.31%, from the previous session's close.
December WTI crude futures on the New York Mercantile Exchange (NYMEX) electronic platform fell by $0.51, or 0.57%, to $88.23 per barrel.
Early Thursday, Iran's Islamic Revolutionary Guard Corps (IRGC) reported explosions in the Strait of Hormuz involving two supertankers carrying a combined 4 million barrels of oil; the vessels were reportedly attempting to use a route not approved by Tehran.
Oil prices had also received support the previous day following a statement by U.S. President Donald Trump, in which he indicated that Washington no longer sees a need for an agreement with Iran.
Houthi rebels in Yemen also reported two drone attacks targeting Saudi Arabia's energy infrastructure: a pumping station on the East-West Pipeline and an oil facility in Yanbu.
