Crude futures settle lower

Oil prices fell on Thursday.

The West Texas Intermediate for September delivery decreased by 2.02 U.S. dollars, or 2.43 percent, to settle at 81.25 dollars a barrel on the New York Mercantile Exchange. Brent crude for October delivery dropped 1.91 dollars, or 2.15 percent, to settle at 87.07 dollars a barrel on the London ICE Futures Exchange.

Iran said on Thursday that the Strait of Hormuz remained closed, while two vessels belonging to Abu Dhabi National Oil Company (ADNOC) of the United Arab Emirates (UAE) were reportedly attacked while transiting the waterway.

Ali Azmaei, commander of the Islamic Revolution Guard Corps (IRGC)'s Navy, said that the strait was closed, and that the Iranian force had complete and decisive control over the movements in the waterway.

No movement in the strait escapes the eyes of the IRGC Navy, the commander said.

Meanwhile, ADNOC issued a statement on Friday, confirming that two of its vessels came under attack in the strait on Thursday evening, according to local authorities and media reports.

In a statement posted on social media, the UAE Ministry of Foreign Affairs condemned the Iranian attacks, stressing the necessity for Iran to cease attacks.

The company confirmed that no injuries have been reported, and the situation has been brought under control, according to the official Emirates News Agency.

The state-owned ADNOC is one of the largest oil and gas producers in the world, serving as the primary driver of the UAE's economy.