Fujairah Oil Loadings Resume After Drone Attack, Global Supply Remains at Risk

The Port of Fujairah has resumed oil loading operations after a drone attack on Saturday. The Indian-flagged vessel Jag Laadki, carrying 80,800 tonnes of UAE's Murban oil, departed for India on Sunday.

The US-Iran war has already cut Middle Eastern oil production by over seven million barrels per day, or seven percent of global supply. Disruptions at Fujairah could force the UAE to shut down more production after cutting output at its offshore fields.

Fujairah is a major bunkering hub and crude export terminal, exporting over 1.7 million barrels per day of crude oil and refined fuels on average last year. The port's location near the Gulf of Oman makes it crucial for global markets during the current conflict.