“Iran attacked and set ablaze a fully loaded crude oil tanker at Dubai port’s anchorage, with the strike damaging the vessel’s hull and raising concerns about a possible oil spill.”

“Dubai authorities said the drone attack caused a fire on board that was extinguished early on Tuesday, hours after the attack was first reported.”

“Kuwait Petroleum Corporation (KPC) said the Al Salmi was struck in an Iranian attack while anchored at Dubai port in the United Arab Emirates, causing a fire onboard and other damage to the vessel.”

“Dubai authorities said maritime firefighting teams successfully put out the blaze which was sparked by a drone attack and continued to assess the situation, adding that no injuries were reported and all 24 crew members were safe.”

“Crude oil prices briefly spiked after Kuwait’s state news agency reported the attack on the tanker, which can carry around 2m barrels of oil worth more than $200m at current prices, but retreated slightly after the Wall Street Journal reported that Donald Trump had told aides he was willing to end the war even if the strait of Hormuz remains closed and that military options were “not his immediate priority”.”

“Brent crude prices are on course for a 59% surge in March, the largest monthly gain on record due to the war in the Middle East.”

“The jump in oil and fuel prices has started to weigh on US household finances and become a political headache for Trump and his Republican party ahead of the November midterm elections, having vowed to lower energy prices and ramp up US oil and gas production.”

“In Dubai, work is under way to assess damage to the tanker, said company KPC. It was loaded with 2m barrels of oil from Kuwait and Saudi Arabia, according to data from industry trackers. Its destination was listed as Qingdao, China, according to reports.”