Oil Tanker Struck By Missile Off Yemen Coast

As Ukrainian drones relentlessly target Russia’s energy complex, tensions in the Middle East are once again rising. Early Saturday, Agence France-Presse reported that a crude oil tanker was hit by a missile off the coast of Yemen. These mounting geopolitical risks underscore the possible need for a higher risk premium on Brent crude prices.

Maritime security firm Ambrey told AFP News that the oil tanker was near the Bab el-Mandeb strait and about ten nautical miles southwest of the city of Mokha at the time of the incident.