The UAE’s important oil port stopped operating

Iran’s UAV attack occurred just a few hours after the US military attacked military targets at Kharg Island – Iran’s main oil export station. In response to this action, Iran’s Islamic Revolutionary Guard Corps (IRGC) declared that US interests in the UAE, including seaports and military bases, were all “legitimate targets”.

The port at Fujairah, located outside the Strait of Hormuz, is the UAE’s gateway to export about 1 million barrels of Murban crude oil per day, equivalent to 1% of world demand. Witnesses at the scene reported seeing two large columns of smoke rising from the harbor area.

The Fujairah emirate media agency, part of the UAE, said the fire was caused by falling debris during the interception of an unmanned aerial vehicle (UAV). Civil defense forces are trying to control the fire. However, authorities have not given specific information about stopping activities here.

ADNOC, Abu Dhabi’s national oil and gas giant, which operates facilities in the emirate, has not yet commented.

“The IRGC has sent the message that there are no ‘safe gateways’ in this rapidly expanding conflict,” said Helima Croft, an analyst at RBC Capital. She said that Tehran’s counterattack immediately after the US attack showed that Iran would not let Washington impose the rules of war escalation.

Earlier this week, the International Energy Agency (IEA) warned that the world is facing an unprecedented oil supply crisis. The reason is that the Strait of Hormuz has been almost blocked since the US and Israel began their air campaign against Iran on February 28.

In a worrying development, Iranian news agencies said the country continues to threaten to attack other UAE seaports, and warned people to leave the areas of Jebel Ali port (Dubai) and Khalifa port (Abu Dhabi).