Tankers are shunning the port of Fujairah in the UAE, the main refueling hub of the Middle East, following the two attacks involving tankers in the area in the past six weeks. Bloomberg quotes traders as saying tanker owners were worried about the situation and were opting to refuel elsewhere. The first attack , against four tankers at the port of Fujairah, led to a spike in tensions between the U.S. and Iran even though the investigation into the attacks, carried out by the UAE, Norway, and Saudi Arabia concluded the perpetrator was “a state actor” without naming it. The U.S. blamed it on Iran and Iran denied involvement. The second attack, in June, was on two tankers in the Gulf of Oman, just outside the Strait of Hormuz. Again, the U.S. and Saudi Arabia blamed Iran for the attacks and Tehran denied the allegations. Naturally, this did not […]