Tanker Attacked in the Persian Gulf; Here’s why this time is different.
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Oil
prices jumped as much as 4% on June 13th following attacks on two Japanese
tankers near the Strait of Hormuz in the Persian Gulf. The attacks occurred shortly after Shinzo Abe, the Japanese Prime Minister, had met with Iranian officials. While the source of the attack was not known, the timing and objects of the attacks seems to point toward Iran or Iranian rebels in Yemen as the likely source. The incident is one in a long history of sabotage activity in the area and threats to shut down the shipping channel. Previous incidents eventually faded into memory with oil prices returning to pre-existing levels. This time may be different.