Oil prices leap nearly 4% after attacks on tankers in Gulf of Oman

Two oil tankers were attacked in the Gulf of Oman on Thursday, leaving one ablaze and both adrift, shipping firms said, driving oil prices as much as 4 per cent higher over worries about Middle East supplies.

The Front Altair, carrying petrochemical feedstock, was on fire in waters between Gulf Arab states and Iran after an explosion that a source blamed on a magnetic mine. The Norwegian owner said its crew were safe. A second Japanese-owned tanker was abandoned after being hit by a suspected torpedo, the firm that chartered the ship said. The crew were also picked up.

Thursday’s attacks were the second in a month near the Strait of Hormuz, a major strategic waterway for world oil supplies.