“Global oil prices top $114 and settle at 4-year high after Iranian attacks on U.A.E. revive worries of further supply disruptions” [May 4, 2026]
June 30, 2026
“Global oil prices on Monday surged back above $114 per barrel and settled at its highest level in nearly four years, after Iran ramped up attacks on energy facilities in United Arab Emirates and ships in the Strait of Hormuz, marking the worst escalation in Middle East tensions ever since the U.S.-Iran cease-fire about a month ago.
The United Arab Emirates on Monday issued a missile-threat warning for the first time since the U.S. and Iran agreed to the cease-fire in early April, and the Associated Press reported that an Iranian drone sparked a fire at an oil facility in the U.A.E.’s eastern emirate of Fujairah…”