The Trader 

Market Outlook: Commercial shipping a target in UAE

The Trader

Escalating tensions in the Middle East, caused by the US imposition of tighter sanctions on Iran, have seen four UAE commercial vessels sabotaged and two Saudi tankers attacked, reports the Financial Times. These happened at a tanker refuelling station close to the UAE’s territorial waters in the Gulf of Oman. This is also close to the Straits of Hormuz which Islamic Republic hardliners threatened to attack to disrupt shipping in this busy channel. Stock markets in the region sold off today and yesterday.

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