The US-Israel battle with Iran and the next closure of the Strait of Hormuz have garnered world consideration for triggering the largest vitality disaster in current historical past (MEES, 17 April), however the affect on the area’s position as an oil merchandise buying and selling hub has gone underreported. Because the outbreak of battle on 28 February, exercise at main storage and buying and selling facilities in Fujairah, Jebel Ali, Hamriyah, and Sohar has declined sharply.
For the UAE’s Jebel Ali and Hamriyah, the difficulty was geography. Neither port was broken by Iranian assaults (aside from a small hearth attributable to particles at Jebel Ali), however locked contained in the Strait of Hormuz, exercise rapidly floor to a halt. That is starting to vary. Market individuals level to a major selloff on the port of Hamriyah, which is understood to have dealt with Iranian refined merchandise, notably naphtha and gasoil (MEES, 6 June 2025). (CONTINUED – 852 WORDS)
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