UAE port resumes oil operations after drone attack. Fujairah's oil-loading facilities have restarted following Saturday's drone strike and subsequent fire that temporarily halted exports. The incident underscores mounting geopolitical risks to global energy supplies amid regional tensions. Fujairah serves as a critical bypass route around the Strait of Hormuz, handling the UAE's Murban crude exports and storing over 70 million barrels for traders. The temporary suspension contributed to crude futures surging above $100 per barrel last week, marking the highest level since 2022. The International Energy Agency has warned that ongoing regional conflict poses unprecedented disruption to oil flows. With operations now resuming, markets will closely monitor for further disruptions that could impact global energy prices and supply chains.
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