A U.S.-owned gas tanker caught fire at Egypt’s Mediterranean port of Damietta after being struck by a drone. The incident, which also involved a second tanker, triggered an 8% surge in oil prices. Egypt’s petroleum ministry confirmed there were no injuries or fatalities. This attack occurred as Brent crude was approaching $95 per barrel, reflecting ongoing concerns about Middle East oil supply stability. Market participants appear to be reacting to this escalation in geopolitical tensions in the region.
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