Brent crude surges past $100 AGAIN as tankers burn in Gulf after deadly Iranian strikes
Oil has surged past the $100 (£74) mark once again after multiple tankers were struck by Iran.
Shocking footage from Thursday morning showed fuel-laden ships burning on Iraqi waters – with an Iranian strike to blame.
Towering pillars of flame were seen shooting into the night sky, with fellow vessels stepping in to receive the tankers’ lifeboats.
The Maltese-flagged Zefyros and the Marshall Islands-flagged Safesea Vishnu were hit in the attack.
One crew member has so far been confirmed dead, with 38 rescued and multiple more missing.
Iraq’s oil ports have “completely stopped operations” following the attack, the country’s state media said.
Shortly afterwards, Brent crude oil shot up past the $100 mark.
That rise came despite major countries agreeing to release a record amount of oil from their emergency reserves in a bid to tackle supply shortages.
Britain will soon release 13.5 million barrels as part of an agreement between the G7 and the International Energy Agency (IEA).
The UK – and all other IEA members – is required to hold 90 days of imports worth of emergency oil stocks.
Right now, Britain holds 76.6 million barrels of oil.
Back in the Middle East, Oman has evacuated all its vessels from its key oil export terminal at Mina Al Fahal as a precautionary measure.
Iran had earlier stepped up attacks on merchant ships in the Strait of Hormuz, telling the world to prepare for oil at $200 a barrel.
On Wednesday, three vessels were reported to have been hit in Gulf waters after Iran’s Islamic Revolutionary Guard Corps fired on “disobeying” ships.
More to follow…
