10:16 AM EDT, 08/12/2026 (MT Newswires) -- Oil prices edged down Wednesday morning, shrugging off reports of vessel attacks in the Red Sea and Gulf of Oman and as Strait of Hormuz talks remain at an impasse.

The UK Maritime Trade Operations reported a cargo vessel in the Red Sea was hit by an "unknown projectile" resulting in casualties. A trade publication said another vessel was disabled by the US Navy for attempting to pass through the Gulf of Oman, violating its blockade of Iranian ports.

West Texas Intermediate September crude oil futures, the US benchmark, edged down 0.5% to $82.76 per barrel. Brent crude oil, the international benchmark, fell 0.6%% to $88.41 a barrel for October delivery.

The seasonally-adjusted US consumer price index for all items rose 0.1% in July, according to the Bureau of Labor Statistics.

Comex gold for December delivery climbed 0.9% to $4,477.90 per ounce.

In agricultural commodities, December wheat futures advanced 2.6% to $6.65 per bushel. November canola futures rose 0.5% to C$784.90 per tonne.