US EditionUS Strikes Iranian Fast Boats as Iran Attacks UAE Oil Facility
Brent crude rose more than 5% after a drone strike set fire to an Emirati energy site and tensions grew in the Strait of Hormuz.
- Brent crude rose 6.3 percent to $114.96 per barrel on Monday as Iranian attacks on ships and an Emirati oil port escalated following President Donald Trump's naval escort announcement.
- Trump announced 'Project Freedom' over the weekend to guide stranded cargo ships through the Strait of Hormuz, which Tehran has blocked since the war began 10 weeks ago.
- Following a drone strike, Fujairah's media office confirmed a 'large fire broke out' at an oil facility, while the United Kingdom Maritime Trade Operations reported two ships hit off the UAE coast.
- U.S. Central Command deployed guided-missile destroyers and 15,000 service members to the region, stating two U.S.-flagged vessels crossed the strait 'and are safely headed on their journey.'
- OPEC+ agreed to an oil output increase of 188,000 barrels per day as traders monitor the Strait of Hormuz blockade's ongoing disruption of global energy supplies.
47 Articles
47 Articles
President Donald Trump said that the U.S. attacked seven "Iranian fast boats in the Hormuz Strait, while Washington was trying to guide the ships blocked out of the Gulf through the largely closed waterway. The United Arab Emirates and South Korea reported on Monday attacks on the ships, mentioning that a fire broke out in...
BREAKING: Drone Attacks Ignite Major Fire At UAE Oil Terminal Amid Tensions
The recent drone attacks at the Fujairah oil terminal represent a troubling escalation in the ongoing tensions between Iran and Gulf states. This incident, which occurred in the early hours of March 14, 2024, ignited a significant fire at one of the UAE’s critical oil facilities and exposed vulnerabilities within the region’s energy infrastructure. As the conflict deepens, the implications for oil markets and regional stability become increasing…
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