Two tankers collided in waters off the United Arab Emirates and caught fire in the early hours of Tuesday, rattling global oil and shipping markets that have been closely monitoring navigation in the region since Israel began strikes on Iran late last week.

Vessels Adalynn and Front Eagle crashed about 24 nautical miles east of Khor Fakkan, in an incident apparently unrelated to the ongoing fighting. According to a social media post from UAE’s national guar…

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