At around 2.50am this morning, it was reported a rag was placed on the oil tank of a house in the Bonds Street area and set on fire.
A second rag was also ignited and placed on a window of the house.
Police and the Northern Ireland Fire Service attended the scene and the fire was extinguished.
The oil tank sustained significant damage as a result.
The propert was occupied by a male and female at the time of the attack who both escaped without injury.
Detectives are appealing for anyone who witnessed the incident or anyone with any information that can assist with the investigation to contact detectives in Strand Road Police Station.