finance
UAE Authorities Confirm Drone Strike Caused Fire at Fujairah Oil Facility
Authorities in the UAE confirmed a drone strike from Iran caused a fire at the Fujairah Oil Industries Zone, with the defense ministry reporting successful interception of four cruise missiles. Iranian state media denied any premeditated plan for the attack and attributed the incident to U.S. military actions in the Strait of Hormuz.
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Developing·Limited corroboration so far. This page will refresh as more sources emerge.
Authorities in Fujairah confirmed a fire at the Fujairah Oil Industries Zone (FOIZ) caused by a drone strike, according to a statement reported by disclosetv. The UAE defense ministry stated it intercepted four cruise missiles launched from Iran during the incident.
Iranian state television, as cited by DeItaone, stated that Iran had no premeditated plan to attack oil facilities in UAE's Fujairah. Separately, Iranian state media, citing a military official and reported by financialjuice, said: "What happened at Fujairah port was the result of the US military's adventurism to create passage for illegal ship transit through the Hormuz Strait."
Brent crude oil prices surged above $119 per barrel after the UAE announced the incident as an Iranian drone strike on the Fujairah oil facility, according to KobeissiLetter.
The facility in Fujairah serves as the UAE's primary oil export route that bypasses the Strait of Hormuz, with a capacity of 1.5 million barrels per day, per analysis from MarioNawfal. The incident follows a similar event in April when Saudi Arabia's East-West pipeline was hit, reducing capacity by 700,000 barrels per day.
Both events have targeted major alternatives to routing oil through the Strait of Hormuz, where Iran holds significant leverage, potentially forcing more oil traffic through the strait and straining global oil supply routes. The fire at Fujairah disrupts a critical export point, increasing reliance on the contested strait for oil shipments.
No casualties were mentioned in initial reports.
