India Condemns Iran Attack on Fujairah as Oil Prices Surge
California Gas Prices Surge Past $6 Amid Oil Supply Crunch Researchers developed a low-cost “all-iron”… Irina is a writer for Oilprice.com with over a decade of experience writing on the oil and gas industry.
India has called for an end to the hostilities in the Middle East, condemning Iran for its recent attack on the port of Fujairah - a vital oil hub that sits right outside the Strait of Hormuz.
Three Indian nationals were injured during the attack, New Delhi said.
In an officialstatementreleased today, the Indian Ministry of External Affairs called the attack “unacceptable”, urged the warring parties to engage in “dialogue and diplomacy”, and insisted on “free and unimpeded navigation and commerce” in the Strait of Hormuz.
On Monday, the UAEsaidan Iranian drone and missile attack had caused a fire at a refinery in the emirate of Fujairah, which sent oil prices flying again as an already fragile ceasefire begins to crack.
Central Command also reported an exchange of fire with an array of Iranian drones, missiles, and small boats.
The news sent Brent crude above $114 per barrel.
The exchange follows the announcement by U.S.
President Donald Trump of an operation dubbed “Project Freedom”, to escort ships stuck in the Strait of Hormuz out of the waterway.
Iran responded to the announcement with a warning that U.S.
forces “will be attacked if they intend to approach and enter the Strait of Hormuz”.
The UAE’s defense ministry, according to Al Jazeera, reported its air defense systems had engaged a dozen ballistic missiles, three cruise missiles, and four drones from Iran yesterday.
| Product | Price | Change |
|---|---|---|
| Brent Crude | $82.14/bbl | ▲ +0.34% |
| WTI Crude | $78.90/bbl | ▲ +0.21% |
| EN590 Diesel | $746/MT | ▲ +0.18% |
| Jet Fuel A-1 | $820/MT | ▲ +0.55% |
| Mazut M100 | $310/MT | ▼ −0.15% |
| Bitumen 60/70 | $420/MT | ▲ +0.08% |
| Sulphur Gran 99.5% | $112/MT | ▼ −0.44% |
| Urea 46% Gran | $298/MT | ▲ +1.12% |
| NPK 16-16-16 | $340/MT | ▼ −0.28% |
| Nat Gas TTF | $10.42/MMBtu | ▲ +0.92% |
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