Two Oil Tankers Possibly Attacked in the Gulf of Oman, Crude Oil Surges

Two oil tankers have been attacked in the Gulf of Oman, similar to the attacks last month in the same region


Two oil tankers have been attacked in the Gulf of Oman, similar to the attacks last month in the same region where four tankers were targeted. WTI crude oil prices surged following news of this possible attack, which hints at rising tensions in the Gulf region where a dispute between Iran and the US remains ongoing.

The tankers suffered an attack close to the Strait of Hormuz, an important waterway that allows for passage of nearly 20% of global oil from Middle East producers. According to a report on Sky News, one of the oil tankers may have been attacked by a torpedo, leading to a fire on board, while the other tanker’s hull experienced damage.

At the time of writing, WTI crude oil is trading at $52.25 per barrel.

ABOUT THE AUTHOR See More
Arslan Butt
Index & Commodity Analyst
Arslan Butt serves as the Lead Commodities and Indices Analyst, bringing a wealth of expertise to the field. With an MBA in Behavioral Finance and active progress towards a Ph.D., Arslan possesses a deep understanding of market dynamics.His professional journey includes a significant role as a senior analyst at a leading brokerage firm, complementing his extensive experience as a market analyst and day trader. Adept in educating others, Arslan has a commendable track record as an instructor and public speaker.His incisive analyses, particularly within the realms of cryptocurrency and forex markets, are showcased across esteemed financial publications such as ForexCrunch, InsideBitcoins, and EconomyWatch, solidifying his reputation in the financial community.

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