Brent crude surges over 5% amid UAE tensions
pre-market1 source ↓written by the desknot a recommendation
- following a drone
- 5%
Oil prices surged on Monday, with Brent crude for July delivery jumping over 5% following a drone strike at an energy facility in the UAE. This incident raised concerns over the fragile US-Iran ceasefire and escalated tensions around the Strait of Hormuz.
The UAE reported Iranian drone activity targeting its territory, threatening a crucial transit route for global oil shipments. Investor sentiment shifted as geopolitical risks intensified, leading to cautious trading in major indices.
Not investment advice. For informational purposes only.