Brent Hits $117 as Tanker Catches Fire in Strait of Hormuz

Tensions in the Middle East are escalating again as a tanker was reported on fire after explosive devices were attached to its hull while the vessel was attempting to transit outbound in the Strait of Hormuz. The UK Maritime Trade Operations (UKMTO), which is affiliated with the Royal Navy, said in a warning notice that it had received a third report on Thursday that a tanker transiting outbound was on fire 25 nautical miles northeast of Khasab, Oman, in the Strait of Hormuz. In a subsequent update, UKMTO said it had received “a verified…