*
* Both crude benchmarks jump as much as 4.5%
* U.S. Navy assisting tankers after distress calls
* Royal Navy unit looking into tanker incident
* Position of tankers: https://tmsnrt.rs/2X6nIQF
* U.S. crude stocks rise further: https://tmsnrt.rs/2XkQF8e
(Updates prices, adds commentary, changes byline, dateline)
By Collin Eaton
HOUSTON, June 13 (Reuters) - Oil prices jumped about 2% on
Thursday following a suspected attack on two tankers in the Gulf
of Oman near Iran and the Strait of Hormuz, through which a
fifth of global oil consumption passes.
The attacks stoked fears such attacks could become more
widespread and impact oil flows from the Middle East,
particularly if insurance companies begin to reduce coverage for
voyages through the Strait of Hormuz and more shipping companies
suspended trips to the region, analysts said.
"These types of attacks have always been a concern," said
Andy Lipow, an analyst at Lipow Oil Associates in Houston. "But
the impact of tanker owners not chartering their vessels and
insurance companies potentially refusing to provide coverage
could further exacerbate the supply problem."
Oil tanker owners DHT Holdings and Heidmar suspended new
bookings to the Mid-East Gulf, three ship brokers said.
"This is the second attack in a month's time," said John
Kilduff, a partner at Again Capital LLC in New York. "It raises
the ante for insurance risk."
Tensions in the Middle East have escalated since U.S.
President Donald Trump withdrew from a 2015 multinational
nuclear pact with Iran and reimposed sanctions, notably
targeting Tehran's oil exports.
Iran, which has distanced itself from the previous attacks,
has said it would not be cowed by what it called psychological
warfare.
Also supporting oil bulls were signs that OPEC members were
close to agreeing on continued production cuts. Brent crude futures LCOc1 were up $1.09, or 1.8%, at
$61.06 by 11:11 a.m. CST (1611 GMT), having risen as much as
4.5% to $62.64.
U.S. West Texas Intermediate crude futures CLc1 were up
$1.06, or 2.1%, at $52.22 a barrel. WTI earlier rose as much as
4.5% to $53.45.
Still, the jump in oil prices has "so far been very muted,"
said Olivier Jakob, an oil analyst at PetroMatrix. "The concerns
about demand growth are still extremely strong, and U.S. stocks
have risen dramatically."
Global crude demand growth will come in at 70,000 barrels
per day (bpd) less than previously expected this year, around
1.14 million bpd, the Organization of the Petroleum Exporting
Countries (OPEC) projected in its monthly oil market report.
"Significant downside risks from escalating trade disputes
spilling over to global demand growth remain," OPEC said in the
report.
Analysts have also revised global oil demand growth
forecasts lower after the U.S.-China trade dispute has escalated
since last month with an expanding exchange of tariffs.
Energy consultancy FGE and British bank Barclays this week
revised down their global oil demand growth forecasts to around
1 million bpd from around 1.3 million bpd. The oil market "has already priced in" the potential supply
disruptions from geopolitical tension "emanating from Iran,"
said Cailin Birch, economist at The Economist Intelligence Unit.
Both crude benchmarks are set for their biggest daily rises
since early January, but they are nevertheless headed for a
weekly loss.
Oil prices had slumped in the previous session on an
unexpected rise in U.S. crude stockpiles USOILC=ECI and a
dimming outlook for global oil demand. EIA/S For an interactive graphic on U.S. crude stocks, click https://tmsnrt.rs/2XkQF8e
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TECHNICALS-Brent oil may bounce into $60.71-$61.39
graphic on U.S. crude stocks https://tmsnrt.rs/2XkQF8e
Graphic on world oil balance: https://tmsnrt.rs/2R36azu
TECHNICALS-U.S. oil may bounce to $52.33 before falling
of evacuated tankers in Gulf of Oman https://tmsnrt.rs/2X6nIQF
Brent crude movements https://tmsnrt.rs/2RapRFG
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