Oil prices briefly spiked on the morning of 11 October amid reports of explosions on an Iranian crude tanker in the Red Sea off the Saudi port of Jeddah. Iran’s Shana news agency reported there were two explosions on the ship, while unverified reports referenced missile attacks.
As MEES went to press, Iranian officials were denying that the Sabiti tanker had suffered a missile attack, but had not offered any explanation as to the cause of any explosions. The vessel itself, carrying a full 1mn-barrel cargo of crude oil, suddenly turned on its AIS transponders following the incident after having been dark for more than a month. (CONTINUED - 286 WORDS)