Somalia Pirates Seize Saudi Oil Tanker: Gas Prices Remain Unchanged
Written by on Tuesday, November 18th, 2008 in Latest News.
The Sirius Star, an oil tanker with the capacity to carry two million barrels and longer than three football fields, was seized by Somali pirates off the coast of East Africa.
This high tech tanker, staffed by only 25 crew members and owned by Saudi Aramco, was headed south toward the Cape of Excellent Hope on its way to North America when it was hijacked. World oil markets did not take notice of the hijacking; but, according to the LA Times:
Had the hijacking taken place earlier in the year, before the world’s leading economies started reeling and international demand for oil fell, it might have kicked the price of oil up $5 or more, analysts said.
Image and Via: LA Times
Original post by AFP and software by Elliott Back