UAE continues to sail oil tankers through the Strait of Hormuz, skirting Iranian blockade - report

The UAE is circumventing the Strait of Hormuz by turning off location trackers on oil tankers to avoid Iranian missile attacks. This is a response to Iran's attempts to evade sanctions on its own oil exports. ADNOC is dispersing export volumes to maintain oil sales, utilizing larger tankers to return to the Gulf for reloading. Global oil prices have surged above $100 per barrel due to the closure of the Strait of Hormuz and the US blockade on Iranian exports.