Oil Prices Top $90 as Kuwaiti Tanker Hit in Strait of Hormuz

A Kuwait-owned oil products tanker was struck by a projectile in the Strait of Hormuz near Oman as tensions escalate around the key shipping lanes of the Middle East, sending Brent back above $90 per barrel. The Kaifan tanker, owned by Kuwait Oil Tanker Co. S. A. K.

, was the vessel hit by an unknown projectile in the Strait, per security consultancy EOS Risk Group cited by Bloomberg. The United Kingdom Maritime Trade Operations UKMTO said early on Tuesday that it had received a report of an incident 8 nautical miles northeast of Limah, Oman.