Four commercial cargo ships have been targeted by sabotage attacks near the UAE,... with two of them known to be oil tankers from Saudi Arabia. <br />This comes amid military tension between the U.S. and Iran over the vital Strait of Hormuz oil-shipping channel. <br />The Associated Press quoted the Saudi energy minister as saying the country's oil tankers were significantly damaged. <br />Although the event did not result in casualties or a spill,... it could still affect the delivery of the shipments.<br />World oil prices reacted to the news,... with prices of popular oil blends, Brent and WTI both increasing amid fears about a global supply crunch. <br /><br />
