and we're starting with the latest incident in the volatile gulf region oil prices have surged after what is believed to have been a missile strike on and ukrainian tanker in the red sea benchmark brant crude oil rose over 2 percent in trading to reach $60.40 a barrel after this beauty was hits off the saudi port city of jeddah the ship was headed towards iran or in the gulf it was the latest strike by an unknown attacker on oil facilities in the gulf region a bombing office saudi arabia's largest oil processing facility this summer caused a 10 percent spike in the oil price but markets calmed quickly as output was restored. for more i'm joined now by joseph head of oil and gas and alice is at fitch solutions in london good to have you with us so you comparison to this attack on saudi oil processing facility in summer how serious is this latest incident for