Oil Surges as Two Tankers Are Damaged in Suspected Attack

The transcript discusses a developing incident involving two tankers near the Strait of Hormuz, suspected to be an attack. The area is tense due to previous attacks on tankers and a Saudi oil pipeline. Historical context is provided, referencing the Iran-Iraq war and ongoing tensions with Iran. Recent incidents have heightened fears, with accusations of sabotage and state involvement, particularly pointing towards Iran. The situation impacts oil prices and the shipping market.

What was the immediate market reaction to the suspected attack near the Strait of Hormuz?

• Decrease in shipping costs

• Stability in crude oil prices

• Increase in crude oil prices

• Decrease in crude oil prices

How close was one of the vessels involved in the incident to Iranian waters?

• 20 nautical miles

• 14 nautical miles

• 25 nautical miles

• 10 nautical miles

What historical event is mentioned as a precedent for the current tensions in the Gulf?

• The Gulf War

• The Iran-Iraq War

• The Suez Crisis

• The Yom Kippur War

What did UAE authorities label the previous attacks on tankers?

• Piracy

• Sabotage

• Accidental

• Natural disaster

Which country has been accused by U.S. officials of being behind the recent tanker attacks?

• United Arab Emirates

• Saudi Arabia

• Iran

• Iraq