[LONDON] BP plc, the British oil giant that had to shelter one of its tankers in the Persian Gulf this month in fear it could be targeted by Iranian forces, is avoiding sending ships to the region...


THOSE of us who can remember the Tanker War in the Middle East Gulf 30 years ago will have been dismayed by the latest news coming from the region.

THE same source responsible for a recent missile launch on an airport in Saudi Arabia likely perpetrated attacks on ships near the Strait of Hormuz, according to the kingdom's energy minister.

COMMODITY prices have been on the sizzle lately but pundits expect the rally to run out of steam - except for bullion, which spectacularly scaled a 14-month high on Friday.

SAUDI Arabia said two of its oil tankers were attacked while sailing towards the Persian Gulf, adding to regional tensions as the US increases pressure on Iran.