News outlets are reporting that pirates from Somalia have hijacked an oil tanker from South Korea. The ship’s last reported location was somewhere in the Indian Ocean, carrying approximately $170 million of crude oil. The oil, owned by Valero Energy Corp., was coming from Iraq and heading for the United States.

The 300,000 ton tanker, named Samho Dream, was carrying a crew of 24 and was last seen on Sunday, 930 miles southeast off the Gulf of Aden. A South Korean naval destroyer was sent to track the tanker down and prevent it from reaching port. Unfortunately, they can only speculate the tanker has been hijacked because they cannot currently confirm the whereabouts of the missing oil tanker.

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