Both ships are significantly damaged, and their crews have been evacuated.
Oil prices rose following two attacks on oil tankers in the Gulf of Oman, close to Iran.
The proximity of the attacks near the Strait of Hormuz heightens the prospect of danger and instability in Earth’s busiest oil shipping corridor.
The region was already tense, with the US and Iran increasingly at odds.
Oil prices had been falling earlier in the day before the attack.
US West Texas Intermediate rose 3.2% to $52.77.
Brent Crude rose 2.8% to $61.65.
At the time this was written (10:10 am central time), the Canadian Crude Index was up $1.64 to $36.26, a rise of $4.74%.
Regarding the attacks, there has been no claim of responsibility at this time. The US Navy says they are “rendering assistance.”
The two ships attacked were the Kokuka Courageous, which was in transit from Saudi Arabia to Singapore. The ship’s manager says the vessel is not in danger of sinking, and says there is no leak of its cargo.
The other ship is the Front Altair, owned by Frontline, a Norwegian company.
Below you can view the aftermath of the attacks:
Photo – YouTube