Western oil supplies could be jeopardized if Strait of Hormuz becomes unsafe, tanker union claims
“We need to remember that some 30% of the world’s (seaborne) crude oil passes through the Straits. If the waters are becoming unsafe, the supply to the entire Western world could be at risk,” the organization said in a statement on Thursday as cited by Reuters.Also on rt.com Neither US nor Iran are ready for making a deal - Trump
INTERTANKO also expressed concerns over the safety of crews going through the Strait of Hormuz following “two attacks on Member vessels.”
Earlier in the day, oil tankers in the Gulf of Oman, which is separated from the Persian Gulf by the narrow Strait of Hormuz, reportedly came under attack. One of the vessels was allegedly hit by a torpedo, but details about the incidents are still unclear.Also on rt.com ‘Suspicious doesn’t begin to describe what happened’: Iran’s FM on tanker ‘attacks’ in Gulf of Oman
Iranian ships were the first to reach the tankers in distress, rescuing 44 sailors from Front Altair and Kokuka Courageous. Iran’s Foreign Minister Javad Zarif noted that the incidents were suspicious, as ‘Japan-related vessels’ were targeted while Japanese Prime Minister Shinzo Abe was on an official visit to Tehran, the first of its kind in more than 40 years.Also on rt.com BURNING tanker filmed by Iran after 'attacks' in Gulf of Oman (VIDEO)
“Suspicious doesn’t begin to describe what likely transpired this morning,” the Iranian diplomat wrote on Twitter.
Iranian President Hassan Rouhani said that security in the “sensitive” Persian Gulf region is of high importance to the Islamic Republic.
The alleged incidents have fueled crude supplies fears. Futures for both oil benchmarks, WTI and Brent, soared nearly 4 percent, trading $53.07 and $62.31 per barrel correspondingly as of 12:08 GMT on Thursday.Also on rt.com Tehran aiming for oil-free economy amid US ‘economic war’ – Iranian FM
The news also had a negative impact on stock markets in the Middle East. Bonds issued by the Gulf Cooperation Council (GCC) states took a hit on Thursday. They include bonds issued by Bahrain, Kuwait, Oman, Qatar, Saudi Arabia, and the UAE. There are concerns in the regional financial markets due to escalating tensions.
“Even if direct conflict is ultimately avoided, heightened geopolitical tensions will continue to act as a headwind to local financial markets,” Jason Tuvery, senior emerging markets economist at Capital Economics, told Reuters. He added that in the current situation investors may demand a higher risk premium to hold assets in the region.Also on rt.com Gulf of Oman tankers incident: Attempt to start a war or invitation to resume US-Iran talks?
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