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G7 Announces Emergency Oil Release Amid Multiple Tanker Attacks Near Strait of Hormuz

Guavy AI Editorial Team
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Oil
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At least three commercial tankers have been hit by unidentified projectiles near the Strait of Hormuz since October 1, sparking concerns over the safety of one of the world's most important oil-shipping routes.

The latest incident occurred early Saturday when a crude oil tanker was struck on its port side around four nautical miles off Oman, according to the UK Maritime Trade Operations (UKMTO).

The G7 has responded by announcing a massive emergency oil release of 100 million barrels through the International Energy Agency.

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