Tensions are again rising in the Middle East, as Iran has launched its latest attack on the United Arab Emirates.

The Korean-operated HMM Namu cargo ship, which was struck by an explosion and suffered a fire while anchored off a port in the United Arab Emirates in the Strait of Hormuz, is expected to be towed to Dubai as early as Thursday.

A South Korean vessel suffered an explosion and fire in the Strait of Hormuz, the nation’s foreign ministry said, the first instance of damage to the country’s commercial fleet stranded in the area si...