A Kuwaiti oil tanker situated off the coast of Dubai was engulfed in flames on Tuesday following an attack by an Iranian drone, according to various reports.

The tanker, named Al Salmi, which was carrying a full load of oil, experienced hull damage, prompting an urgent response from firefighters who worked tirelessly to extinguish the fire, as reported by the Kuwait News Agency.

All 24 crew members aboard the vessel were successfully rescued, and officials confirmed there were no incidents of oil spillage, according to the Dubai government.

Authorities are currently assessing the extent of the damage inflicted on the tanker, which has been operational since 2011.

This incident occurs amidst ongoing volatility in oil prices, further complicated by the closure of the Strait of Hormuz.

Recently, on Monday, the price of Brent crude reached $116 per barrel. This surge followed statements by President Trump, suggesting that the U.S. could potentially seize Iran’s oil reserves, drawing a parallel to the nation’s takeover of Venezuelan exports after the ousting of Nicolás Maduro.

“To be honest with you, my favourite thing is to take the oil in Iran, but some stupid people back in the US say: ‘Why are you doing that?’ But they’re stupid people,” he told the Financial Times Sunday.

Trump is also said to be mulling over whether to launch a ground invasion of Kharg Island – a Tehran energy stronghold, where around 90 per cent of its oil exports are processed.

“Maybe we [will] take Kharg Island, maybe we don’t. We have a lot of options,” he said.

“It would also mean we had to be there [on the island] for a while.”

US allies have warned how a ground invasion could endanger American troops as Iran would launch retaliatory strikes.

Meanwhile, Trump also claimed a deal with Tehran was “probably” close — but warned US forces would obliterate Tehran’s electricity and oil plants if talks were unsuccessful.

“This will be in retribution for our many soldiers, and others, that Iran has butchered and killed over the old Regime’s 47 year ‘Reign of Terror,’” he wrote on Truth Social.

Trump has paused strikes on Iranian energy infrastructure until April 6.

With Post wires