Money
Iran targets UAE energy infrastructure as gas field set ablaze, tanker struck near Strait of Hormuz
Oil prices advanced on Tuesday as energy market participants monitored Middle East supply disruptions.
editorial-staff
1 min read
Updated 24 days ago
Summary
Iran has reportedly targeted energy infrastructure in the UAE, coinciding with the ignition of a gas field and an attack on a tanker near the Strait of Hormuz.
These developments are critical as they may disrupt the flow of oil, which is already under scrutiny due to ongoing tensions in the Middle East.
Market participants are closely monitoring these events, as any significant disruption could lead to fluctuations in oil prices and impact global supply chains.
Updates
Update at 17:41 UTC on 2026-03-18
BBC World reported Iran's military warned it would take "decisive action" in response to the strike on its energy infrastructure.
Sources: BBC World