Brent crude futures for October delivery gained 1.01% to $88.09 a barrel, while U.S. West Texas Intermediate futures for September advanced 1.15% to $82.31 per barrel. Oman's coastline is reportedly being affected by a massive oil spill from a tanker that ran aground on June 30, carrying an estimated 800,000 barrels of Russian oil. Additionally, the International Energy Agency (IEA) stated on Wednesday that global oil demand is expected to fall further than previously anticipated this year due to the ongoing impact of the Strait of Hormuz closure and "renewed hostilities and maritime disruptions" undermining efforts to boost global oil supply.