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Discount City

Iran makes good on its promises hitting UAE.
Published: 5 May 2026
Written by:
Will Cunliffe

Will Cunliffe

Research Analyst, The Officials
Will Cunliffe
,
Edward Hayden-Briffett

Edward Hayden-Briffett

Research Analyst, The Officials
Edward Hayden-Briffett
and
Spyridon Kokas

Spyridon Kokas

Research Analyst, The Officials
Spyridon Kokas
Reviewed by:
Jorge Montepeque

Jorge Montepeque

Head of Benchmarking, The Officials
Jorge Montepeque
Edition: Asia EditionVolume: 3Issue: 84
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Iran makes good on its promises hitting UAE.

A summary of yesterday’s escalation of war: Fujairah in particular got whacked, with the VTTI facility hit, the ENOC terminal was clobbered, and matrix manifold 1 took a pounding too. Flights were grounded and operations were suspended. Flat price jumped yesterday seeing the renewed bombings and droning, from around $110 to near $115 by the early evening. But today’s price action was rather sideways, between $113-114 for the most part, reaching the Asian close at $113.08/bbl. Since time of writing, we have since seen the price fall away to around $111.50/bbl.

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About Asia Edition

Benchmark reports published at the close of the trading day in Singapore.

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