Vito Energy Group's Bahrain head said the oil market may currently be underestimating certain risks.

Iran's Islamic Revolutionary Guard Corps Navy attacked the US-owned cargo ship MSC Sariska.

The UAE is planning its first multi-fuel refined-products pipeline to keep exports of gasoline, diesel and jet fuel flowing if the Strait of Hormuz is shut, ADNOC vice president Philippe Khoury said. Abu Dhabi already routes crude from Habshan to Fujairah via an existing pipeline with a 1.5 mln b/d cap and has relied on it since the conflict began; Fujairah port has faced repeated attacks that have disrupted exports. ADNOC is building a second crude pipeline due early next year that will double Fujairah throughput to about 3.0 mln b/d. The proposed products pipeline would be switchable between fuel types, operating like the US Colonial pipeline.