Leading shipping companies suspended sailing through the Strait of Hormuz after two ships were hit yesterday morning, one of which was set on fire, injuring four mariners. The crew of one vessel, Skylight, were later evacuated.

A third strike happened 35 miles off the coast of the United Arab Emirates yesterday afternoon when, according to the United Kingdom Maritime Trade Operations (UKMTO), 'an unknown projectile exploded in very close proximity to a vessel'. It added that all crew were safe and well.

The threat of further Iranian attacks yesterday saw at least 150 tankers drop anchor as companies, including European giants Maersk and CMA CGM, refused to head into the 100-mile Strait – which is just 24 miles wide at its narrowest point – where the Persian Gulf flows into the Arabian Sea.

Some 20 per cent of the world's oil – about 20 million barrels per day – and 25 per cent of liquefied natural gas is transported through the passage, which Iran briefly closed off by holding live fire drills last month.

OPEC (the Organisation of Petroleum Exporting Countries) stood accused of cashing in on the crisis in the Middle East as prices have already climbed 20 per cent this year as markets anticipated the attack on Iran.

The volatility could also lead to higher electricity prices, according to one expert. Jorge Leon, head of geopolitical analysis at energy intelligence firm Rystad Energy, said disruptions in the liquid natural gas markets could drive up gas prices, which are closely linked to the price of electricity.

He said: 'A higher electricity price will feed through the global economy, and, in particular in the UK, [lead to] higher inflation.

'We have a direct effect – which is higher prices at the pump and higher electricity bills, but also a secondary effect, which is things will get more expensive because inflation might increase.'

https://www.dailymail.co.uk/news/article-15604957/Oil-prices-set-surge-ships-hit-Strait-Hormuz-Brit-motorists-warned-fuel-prices-skyrocketing.html

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Attorneys have drafted an executive order, urging President Trump to declare a national emergency over voting.