Iran launched drone and missile attacks on Tuesday, striking the Shah natural gas field in the United Arab Emirates and an Iraqi oil field. The attack on the high-sulfur Shah facility forced a suspension of operations for damage assessment. This escalation marks a strategic shift from maritime disruptions to direct strikes on land-based energy production.
The UAE temporarily closed its national airspace as a precautionary measure, briefly halting operations at major international hubs including Dubai. These strikes, combined with an ongoing blockade of the Strait of Hormuz, have intensified concerns regarding a prolonged global energy supply crisis.
Global oil markets reacted to the heightened geopolitical risk, with Brent crude prices remaining above $100 per barrel. Persistent targeting of Persian Gulf infrastructure continues to drive extreme volatility for energy sector equities.