Oil jumps $3 as Iran reviews bill to ban US, Israeli vessels from Hormuz

Saudi Arabia has slightly lowered the official selling price for its flagship Arab Light crude oil to Asia in September, a pricing document reviewed by Reuters showed.

Elsewhere, a major oil refinery in Russia's Yaroslavl region was on fire after a big Ukrainian drone attack and emergency services are working to put out the blaze, Mikhail Evrayev, the regional governor, said on Thursday.

Meanwhile, Yemen's Houthis said they carried out missile and drone attacks on "Saudi deployments" in Marib and Hadramout in Yemen on Thursday, and that they killed or wounded hundreds of Saudi-aligned fighters, and destroyed military camps, weapons depots and vehicles.

"The market is going up and down as tensions rise and fall and of course these attacks are a significant development because it is more activity in the other theatre, away from the Persian Gulf, and is a reminder that the Red Sea passageway could still be in jeopardy," said John Kilduff, partner at Again Capital.