Crude futures settle mixed

Oil prices settled mixed on Wednesday.

The West Texas Intermediate for December delivery lost 67 cents, or 0.68 percent, to settle at 97.15 U.S. dollars a barrel on the New York Mercantile Exchange. Brent crude for December delivery gained 3 cents, or 0.03 percent, to settle at 108.82 dollars a barrel on the London ICE Futures Exchange.

The navy of Iran's Islamic Revolutionary Guard Corps (IRGC) said Thursday that it had struck four "violating" ships in the Persian Gulf in recent hours, while three other "offending" vessels caught fire after hitting naval mines west of the Strait of Hormuz Wednesday night.

The four targeted ships, which had crossed an "illegal" route in the strait, were detected and hit in the northern central Gulf while engaged in a ship-to-ship transfer of oil cargoes, the navy said in a statement released by the IRGC's official news outlet Sepah News.

All four vessels were targeted simultaneously and set on fire, it said, adding that maritime companies had been warned against crossing "illegal" routes in the Strait of Hormuz.

The navy said the three vessels that struck naval mines the previous night caught fire and were forced to stop.

It added that the U.S. government's insistence on inciting ships to pass through the "illegal and mined" route had led to a daily increase in maritime incidents, warning that if the U.S. military continues to do this, the confrontation could extend to its bases in the region.

The navy said its forces still manage and control the Strait of Hormuz.

Iran tightened its grip on the strait on Feb 28, barring safe passage of vessels belonging to or affiliated with Israel and the United States following their joint strikes on Iranian territory.