Persian Gulf Now Most Risky for Oil Tankers Since Last Iraq War

By Alex Longley (Bloomberg) -- Not since 2005 have the world’s insurers considered shipping in the Persian Gulf so dangerous for oil tankers. The Joint War Committee of London’s Lloyd’s Market Association said Friday that it would expand its so-called ‘listed areas’ -- those regions that pose the greatest risks for shipping, and potentially warranting higher … [Read more...]

Saudi Arabia Says It’s Seeking to Avert War, But Ball in Iran’s Court

By Marwa Rashad and Stephen Kalin RIYADH, May 19 (Reuters) - Saudi Arabia said on Sunday it wanted to avert war in the region but stood ready to respond with "all strength" following last week's attacks on Saudi oil assets, telling Iran that the ball was now in its court. Riyadh has accused Tehran of ordering Tuesday's drone strikes on two oil pumping stations in the … [Read more...]

Insurer Says Iran’s Guards Likely Organized Tanker Attacks

By Jonathan Saul and Gwladys Fouche LONDON/OSLO, May 17 (Reuters) - Iran's elite Revolutionary Guards (IRGC) are "highly likely" to have facilitated attacks last Sunday on four tankers including two Saudi ships off Fujairah in the United Arab Emirates, according to a Norwegian insurers' report seen by Reuters. The UAE, Saudi Arabia and Norway are investigating the attacks, … [Read more...]

U.S. Believes Iran Encouraged Tanker Attacks -U.S. Sources

By Mark Hosenball WASHINGTON, May 15 (Reuters) - U.S. officials believe Iran encouraged Houthi militants or Iraq-based Shi'ite militias to carry out Sunday's attacks on four tankers near the Strait of Hormuz, two U.S. government sources said on Wednesday. The sources, who spoke on condition of anonymity and who are familiar with U.S. national security assessments, said they … [Read more...]

U.S. Envoy Urges Response “Short of War” to Gulf Tanker Attacks

By Stephen Kalin and Alexander Cornwell RIYADH/DUBAI, May 14 (Reuters) - The U.S. ambassador to Saudi Arabia said Washington should take what he called "reasonable responses short of war" after it had determined who was behind attacks on oil tankers off the coast of the United Arab Emirates. Iran was a prime suspect in the sabotage on Sunday although Washington had no … [Read more...]