Iran tanker hit by suspected missile strikes near Saudi port

Suspected missile strikes hit an Iranian oil tanker near the Saudi coast on Friday, its owner said.

The National Iranian Tanker Company, which owns the ship, said the hull of the Sabiti was hit by two separate explosions off the Saudi coast, saying they were "probably caused by missile strikes."

The news sent Brent surging 2.3 percent to $60.46, while West Texas Intermediate jumped 2.1 percent to $54.69. Prices had already been rising on growing hopes for a breakthrough in the China-US trade talks.

The blasts come just weeks after two of Saudi Arabia's biggest oil installations were hit, wiping out five percent of global production.

The National Iranian Tanker Company said the hull of the vessel was hit by two separate explosions about 100 kilometres (60 miles) off the Saudi coast.

It identified the tanker as the Sabiti and said the blasts were "probably caused by missile strikes".

"All the ship's crew are safe and the ship is stable too," NITC said, adding those on board were trying to repair the damage.

Oil was leaking from the tanker into the Red Sea off the major Saudi port of Jeddah.

The state-owned company said that contrary to reports, "there is no fire aboard the ship and the ship is completely stable".

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