Hijacking highlights threat of modern-day piracy

Saudi Aramco officials reportedly hope to negotiate with Somali pirates who hijacked the Sirius Star off the coast of Kenya while the supertanker was carrying up to 2 million barrels barrels of crude worth $100 million. The hijacking may increase the cost of transporting oil because enlarging a "war risk" zone will prompt insurance rates to go up and ships to steer a wider course to avoid the area. A Saudi official pledged that his country will join international efforts to thwart piracy.

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