Crude oil futures

Kuwait Oil Tanker Attacked by Iran Near Dubai, Major Oil Spill Threatens Region

A Kuwait-flagged crude oil tanker, the Al-Salmi, was attacked and set ablaze at Dubai Port’s anchorage on Monday, prompting concerns of a potential oil spill and causing a rise in crude futures. This incident follows a pattern of drone and missile attacks on merchant vessels in the Gulf and Strait of Hormuz, with a Greek-owned container ship also reporting projectile strikes off the coast of Saudi Arabia earlier that day. While no injuries were reported, investigations are underway to assess the full extent of the damage to the oil tanker.

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