Higher insurance premiums could put upward pressure on prices for American Petroleum Institute Group II and III base stocks from the Middle East Gulf after last weeks decision by Londons marine insurance market to widen the list of areas in and around the Gulf that it says pose perceived enhanced risk for marine insurers.
The move follows attacks on ships flagged Saudi Arabia, United Arab Emirates and Norway, which all suspect Iran acts of sabotage against the four vessels that were at anchor off the U.A.E. coast. Iran denies responsibility for the attacks.
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