US EditionOil Prices Rise More than 1% After Renewed Iranian Attacks on UAE
Iranian attacks on Gulf energy sites have pushed global crude prices over 3% higher, raising concerns about supply as emergency oil stock releases begin, the International Energy Agency said.
- On Tuesday, oil prices jumped about 3% after renewed Iranian attacks on the United Arab Emirates, with Brent crude at $103.48 and U.S. West Texas Intermediate at $96.64.
- Iran launched fresh strikes on the UAE's Shah natural gas field and Fujairah port, halting ADNOC loading as the Strait of Hormuz has been disrupted since February 28 with over a dozen vessel attacks.
- A drone strike caused a fire at Fujairah, and a tanker struck by an 'unknown projectile' halted some operations; the UAE cut output by more than half while Fujairah handles roughly 1% of global demand.
- The International Energy Agency said members can release more emergency stocks beyond 400 million barrels starting this week, while U.S. gasoline prices rose to $3.79 a gallon and several U.S. allies rebuffed President Donald Trump's call for warship escorts.
- With the Strait of Hormuz handling roughly 20% of global oil and LNG, analysts warn risks remain stark and Cavendish said 'While that has eased concerns about an immediate hit from locked-up Middle Eastern barrels, traders still expect the disruption to be severe'.
25 Articles
25 Articles
Oil prices rise more than 1% after renewed Iranian attacks on UAE
Oil prices rose by more than 1% on Tuesday, recovering some of the previous session's losses as Iranian attacks on the United Arab Emirates rekindled supply fears while the Strait of Hormuz remains largely shut.
Oil surges 3% as Iranian strikes on UAE renew supply fears
Oil prices jumped about 3% on Tuesday after renewed Iranian attacks on the United Arab Emirates rekindled supply fears, with the Strait of Hormuz remaining largely shut and several U.S. allies rebuffing President Trump's call to send warships to escort shipping through the vital waterway.
Oil prices jump as Iran warns Strait of Hormuz ‘cannot be the same’
Oil prices spiked Tuesday and US gas prices rose as Iran intensified its attacks on energy infrastructure across the Middle East and a senior regime figure suggested that the crucial Strait of Hormuz wouldn’t become safe for ships anytime soon.
Oil and gas prices on the world market are rushing upwards after attacks on Iranian facilities.
Oil jumps 3% as Gulf attacks deepen supply shock, with Hormuz disruption keeping markets on edge
Global oil prices rebounded sharply on Tuesday, rising about 3% as fresh attacks linked to Iran on the United Arab Emirates reignited fears of prolonged supply disruptions, with the strategically critical Strait of Hormuz still operating far below normal capacity. Benchmark Brent crude climbed $3.27, or 3.3%, to $103.48 a barrel by mid-morning in London, […] The post Oil jumps 3% as Gulf attacks deepen supply shock, with Hormuz disruption keepin…
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