14JUN2019 - NEWS - Middle East Torpedo Attacks Send Oil Prices Soaring

Oil prices surged early on Thursday after two oil tankers were reported to have been hit by explosions in the Gulf of Oman between Iran and the United Arab Emirates (UAE), a month after a previous incident in Middle Eastern waters. The suspected attacks occurred one month after the UAE said in May that a total four vessels were attacked off its coast at the port of Fujairah, the world’s second-largest bunkering port. The Front Altair, was attacked between the Emirates and Iran in the early morning local time 13 June 2019. There were reportedly three detonations on board the ship. The crew have been rescued by a passing ship and no injuries are reported. The Front Altair ship is on fire, while a second tanker, the Kokuka Courageous, has reportedly also been attacked in the same area.