Shutdown Twice in Three Days! Fujairah Port Hit Again as Global Oil Tops $100

BlockBeats News, March 16th, the key energy hub in the UAE, the Fujairah Port, was attacked again on Monday, forcing the suspension of oil loading operations at the port and causing international oil prices to rise to over $100 per barrel.

According to sources, the port is assessing the losses from the latest attack and has taken preventive measures to suspend loading. This is the second shutdown of the port in 3 days. Previously on Saturday, the port experienced a drone attack that resulted in a fire, followed by a brief resumption of operations over the weekend.

The Fujairah Port is a crucial crude oil and fuel export hub in the UAE, serving as the country's only oil export pathway bypassing the Strait of Hormuz, connecting to the terminal of the Abu Dhabi National Oil Company's main oilfields pipeline. Against the backdrop of almost disrupted shipping in the strait due to conflicts, the port's importance to global energy supply has further escalated.

Meanwhile, the situation in the Middle East continues to escalate. Trump has called on major world powers to send warships to escort merchant ships to assist in reopening the Strait of Hormuz. However, no country has explicitly stated participation at present. With the escalating supply risks, market risk aversion has increased, driving continuous gains in international oil prices.