Tanker attack in Strait of Hormuz adds to oil supply concerns

Tanker attack in Strait of Hormuz adds to oil supply concerns

A tanker travelling out of the Strait of Hormuz continued toward its next port after a small boat attached two explosive devices to its hull, causing blasts and an engine-room fire, the United Kingdom Maritime Trade Operations (UKMTO) said on Friday. The crew were safe, the fire had been extinguished and no environmental impact was reported.

The incident took place on Thursday about 25 nautical miles northeast of Khasab, Oman. Authorities have not identified who was responsible. UKMTO urged vessels to transit cautiously and report suspicious activity.

Oil prices rose in early trading, with Brent crude futures gaining about 1% to $116.08 a barrel and U.S. West Texas Intermediate climbing roughly 1.3% to $103.37, according to Reuters. Markets remain sensitive to disruptions around the strait, a key route for global oil shipments, amid the continuing war involving the United States, Israel and Iran.

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