Commodities
UAE Intercepts Iranian Drone as Tensions Escalate Between US and Iran
The United Arab Emirates' air force intercepted an Iranian drone over its territorial waters on Monday.
This incident comes after the US and Iran exchanged fire on the weekend, marking the first significant military action in a month.
The US has been ratcheting up economic pressure on Iran with the hope of forcing concessions out of Tehran, including reopening the vital Strait of Hormuz to shipping. The price of Brent crude oil climbed above $90, up about 25% from the start of the war, posing a growing problem for US President Donald Trump ahead of the midterm elections.