Oil Has Become Too Cheap For Pirates To Steal
9:00 am in Daily Bulletin
The falling price of oil is wreaking havoc in markets across the world, including the pirate one, writes Cassie Werber:
- As we’ve reported before, rates of piracy have been in decline for a while now.
- However, the little bit of piracy that did remain usually focused on oil tankers. The black gold could be siphoned off for a nice profit.
- Now with oil prices having dropped by $100 in less than a year, to about $30 now, pirates seem to be calculating that it’s no longer worth the effort and are stopping their attacks.
It’s unclear what the drones will target next.
Read more here.
Source: Quartz
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