TANKER REPORTED ABLAZE OFF OMAN COAST

The UK Maritime Trade Operations agency says a vessel was spotted on fire nine nautical miles north of Khasab, Oman, inside the Strait of Hormuz on October 29, with the crew's status still unknown. It is the third reported strike on shipping in the strait this month, after a tugboat was hit by two projectiles near Khor Fakkan on October 18 that left one crew member with a minor injury. Each new strike adds fresh risk premium to tanker insurance and freight through the corridor, pressure $USO investors are now pricing in.