A U.S.-owned gas tanker was set ablaze in egypt, far outside the gulf, and oil jumped 8%

Crude oil all time high predictionsA U.S.-owned gas tanker caught fire at Egypt’s Mediterranean port of Damietta after being struck by a drone, according to reports. The incident, which also involved a second tanker, led to an 8% increase in oil prices amid already high tensions in the Middle East. This development coincides with Brent crude near $95 a barrel, reflecting existing concerns over Middle East oil supply stability. AdvertisementKey TakeawaysThe recent attack on a U.S.-owned gas tanker in Egypt appears to have contributed to an 8% increase in oil prices. What to WatchWatch for any further geopolitical developments in the Middle East, particularly those involving oil supply routes and infrastructure.