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Oil tankers could face rise in marine insurance rates

Posted On: May. 23, 2019 5:50 AM CST

Oil tanker

Insurers may consider increasing rates for oil tankers passing through the Middle East after U.K.-based Lloyd's Market Association raised the security-risk status of several areas in the Persian Gulf, reported citing sources. The association's Joint War Committee issued the warning after saboteurs recently attacked two Saudi oil tankers and four United Arab Emirates' vessels in the region.

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