Red Sea tanker strike reports added to market concern after UKMTO said another tanker had been struck in the Red Sea. The source article said Yemen had stated it would attack Saudi vessels. As a result, the report added to the fear-driven support under crude prices.
Globex oil futures reopen for trading at 6 p.m. US Eastern time. Meanwhile, the source cited UKMTO as the reporting body for the latest incident. It did not give further details on the vessel in the brief report.
UKMTO Role in Red Sea Tanker Strike Reports
The United Kingdom Maritime Trade Operations, or UKMTO, is a Royal Navy-run maritime security centre based in Bahrain. It provides verified security information to mariners, shipping firms, and regional authorities. Additionally, it focuses on the Middle East and Indian Ocean region.
Its coverage includes the Strait of Hormuz, the Bab el-Mandeb Strait, the Red Sea, the Gulf of Aden, and the Gulf of Oman. UKMTO also acts as a link between merchant shipping and naval and coalition forces in the area. Because of that role, it often serves as the first official source when shipping incidents occur.
How UKMTO Issues Incident Alerts
Under the Single Information Framework agreement, UKMTO works with global maritime groups to send timely security alerts. It also runs a Voluntary Reporting Scheme in a defined reporting area. Therefore, ship masters and company security officers can report their movements in high-risk waters.
When an attack, boarding, hijacking, or other security event happens, UKMTO sends formal warnings to the industry. Those notices alert masters and security officers that an incident is taking place in its reporting area. Notably, its statements are usually short and factual, covering the location, the type of incident, and the crew safety status.
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Source: InvestingLive
