October 11, 2019 / 12:51 PM / 2 months ago

Saudi dollar bonds fall on worries about Gulf tensions

LONDON, Oct 11 (Reuters) - Saudi Arabian dollar bonds slipped to multi-week lows on Friday as investors fretted about the risk of renewed tension in the Gulf after Iran reported an attack on one of its oil tankers.

The 2046 sovereign issue fell 0.9 cents to 109.2 cents in the dollar, its lowest level in nearly three weeks, while Saudi Aramco’s 2049 issue lost 0.6 cents to trade at 108.0 cents in the dollar, according to Tradeweb data.

Iranian media said the tanker Sabiti was struck, probably by missiles, in the Red Sea off Saudi Arabia’s coast on Friday. The incident, which has yet to be independently confirmed, is the latest involving oil tankers in the Red Sea and Gulf area, and could ramp up tensions between Saudi Arabia and Iran, longstanding regional foes. (Reporting by Tom Arnold; Editing by Hugh Lawson)

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