Oman Oil Terminal Attack Rattles the Market's Last Calm Corner

Media reports about a blast disrupting oil loadings at Oman’s main terminal pushed benchmark prices higher earlier today, in the latest sign that any hopes about an end to Persian Gulf hostilities is probably premature.

At the time of writing, Brent crude was trading at $95.37 per barrel, and West Texas Intermediate was changing hands for $93.04 per barrel on the futures market, modestly up on Thursday, when prices dropped on reports about a ceasefire between Israel and Hezbollah.

Later news coverage, however, revealed that Hezbollah has…