Fujairah is hit again, forcing the oil market to price in another layer of supply risk.
🔎 A second drone strike within days has disrupted oil loading operations at Fujairah once again, while damage is still being assessed and no casualties have been reported.
🛢️ What worries the market is not just the fire itself, but the fact that Fujairah is the UAE’s key export outlet outside the Strait of Hormuz, normally handling around 1 million barrels per day of Murban crude and serving as a major node for global storage, blending, and bunkering flows.
⚠️ When even the route seen as the alternative to Hormuz is being hit repeatedly, the risk premium on Gulf oil rises further. The near-term focus is no longer how large or small the fire was, but whether repeated disruptions could continue to pressure regional supply.