UAE Reports Iranian Drone Strike on Key Oil Port as Tensions Escalate in Strait of Hormuz

Iran launched a drone attack on the Fujairah oil port in the UAE, escalating tensions in the Strait of Hormuz. This attack caused a significant rise in oil prices, exceeding 5%, and triggered a decline in global stock markets due to concerns about disrupted energy supplies. The US President warned Iran that it would be 'blown off the face of the earth' if it targeted US vessels in the strait.