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

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

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Agencies  |  Dubai 

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

The Front Altair, carrying petrochemical feedstock, was on fire in waters between Gulf Arab states and 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 supplies.

"We need to remember that some 30 per cent of the world's (seaborne) passes through the Straits. If the waters are becoming unsafe, the supply to the entire Western world could be at risk," said Paolo d’Amico, chairman of INTERTANKO tanker association. The and blamed for limpet mine attacks in May on four tankers off the coast of the United Arab Emirates, a charge denies.

Meanwhile, Iran's navy rescued 44 crew members from two which caught fire after an “accident” in the Sea of on Thursday, official agency IRNA reported.

"Forty-four sailors from the two foreign which had an accident this morning in the Sea of were saved from the water by the (navy) rescue unit of Hormozgan province and transferred to the port of Bandar-e-Jask," IRNA quoted an "informed source" as saying.

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First Published: Thu, June 13 2019. 23:57 IST
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