The fallout from one of the world's largest container ships getting stuck in Egypt’s Suez Canal is disrupting oil and LNG shipments. Crude prices are already rising as the crucial world shipping choke point is set to be cut off for at least another two days.
Foreign Secretary Jeremy Hunt has warned of the "great risk" of a drift to war with Iran following the attacks last week in the Gulf on two oil tankers.
Two oil tankers near the strategic Strait of Hormuz have reportedly been attacked, leaving one ablaze and adrift as sailors were evacuated from both vessels and the US navy rushed to assist amid heightened tensions between Washington and Tehran.
A ban on 113 oil tankers by Nigerian state oil company NNPC must be lifted immediately as no grounds have been given for the measure, the global oil tanker industry association said in a letter of protest.
