Oil world on edge after tanker attack near passage that funnels a fifth of the world’s crude

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Saudi Arabia says the attack threatens security of oil supplies to consumers worldwide

DUBAI/LONDON — Saudi Arabia said on Monday that two Saudi oil tankers were attacked off the coast of the United Arab Emirates, condemning it as an attempt to undermine the security of crude supplies amid heightened U.S.-Iranian tensions.

In a sign of concern about rising tensions, Britain’s Foreign Minister Jeremy Hunt warned of the risks of “a conflict happening by accident” with an unintended escalation between Washington and Tehran over an unraveling nuclear deal. The attack did not lead to any casualties or an oil spill but caused significant damage to the vessels’ structures, he said.

Saudi Arabia’s foreign ministry in a separate statement voiced support for the UAE, the Middle East’s trade and business hub. Gulf stock markets fell on Monday, with Dubai down 2.6 per cent and the Saudi index down over 2 per cent.

 

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