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Will Waning Gasoline Demand Drag Oil Prices Down?

Will Waning Gasoline Demand Drag Oil Prices Down?

Oil markets were looking forward…

Ship Explosion Rocks Dubai Port

Local media have reported a large explosion at the Port of Jebel outside of Dubai, in the United Arab Emirates, with the Dubai government confirming a fire on a container ship.

 The explosion was loud enough to hear across the city, as described by media.

 In a statement carried by BNO Media, the Dubai government said: “A fire has been reported to have broken out in a container within a ship anchored in Jebel Ali Port. A Dubai Civil Defense team is working to put out the blaze.”

Officials said there were no immediate reports of casualties, and the extent of damages remains unknown at this time. 

According to AP, witnesses reported shaking buildings across the city, noting that the blast was felt up to 15 miles away.

Emerging reports coming from Dubai officials suggest that the fire is now under control. Dubai Media Office posted video of efforts to put the fire out on its Twitter account.

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As of yet, there has been no statement as to the cause of the explosion and ensuing fire, and no details of the damaged that may have been caused.

By Charles Kennedy for Oilprice.com

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