Yemen tanker blast hikes crude price to $30 per barrel
Yemeni authorities are investigating the cause of yesterday’s Limburg supertanker explosion that took place in the Gulf of Aden. France’s Euronav, the tanker operator, fears that a terrorist group was behind the explosion.
Once reported, world crude prices were pushed past the $30 per barrel mark, however oil production continued as exporters held out for news on the cause of the explosion.
The tanker was loaded with 400,000 barrels of Saudi oil at the time of the explosion and was scheduled to pick up 1.5 million tons of additional crude at Mina Al-Dabah, reported Limburg’s charter, Petronas.
The blast took place as the tanker prepared to dock at Mina-Al-Dabah, Near Mukalla in Yemen. According to Euronav’s Director Jacques Moizan, the crew witnessed a high-speed vessel approaching on the starboard side of the tanker, which was shortly followed by an explosion.
Contrary to this report, Yemen’s Minister of Transport and Marine Affairs Saeed Yafai stated that one of the ship’s tanks exploded, causing the large fire.
Yemen’s oil link has been branded one the Arab World’s most unstable passages ever since the attack on the US Navy Destroyer Cole two years ago. Security measure have been tightened at Yemeni ports since the Cole incident that killed 17 US soldiers. — (menareport.com)
© 2002 Mena Report (www.menareport.com)