Drones target Fujairah oil complex for second consecutive day, port suspends oil loading

The key port of Fujairah in the United Arab Emirates has suspended oil loadings, Bloomberg News reported. Fujairah, which has come under a series of attacks, is typically the outlet for more than 1 million barrels per day of the state firm's Murban crude.

A new drone strike hit the Fujairah oil complex on the UAE's east coast, causing a fire, AFP cited local authorities as saying. However, there have been no reports of injuries so far. The facility was also targeted on Monday. The key port of Fujairah in the United Arab Emirates suspended oil loadings, Bloomberg News reported. Fujairah, which has come under a series of attacks, is typically the outlet for more than 1 million barrels per day of the state firm's Murban crude.

Fire in Fujairah Oil Industry Zone

A fire erupted in the Fujairah Oil Industry Zone in the United Arab Emirates after a drone strike, the emirate’s media office said on Tuesday citing authorities. It added that no injuries were reported.

Civil defence teams were working to control the blaze, the media office said in a statement.

Fujairah is a key centre for both crude oil and refined fuels. Its importance has grown for the United Arab Emirates and global markets because it lies outside the Strait of Hormuz, which has been almost fully closed because of the war.

Gulf states press US to neutralise Iran for good: Report

Gulf Arab countries did not ask the United States to wage war against Iran, but many are now urging Washington not to stop the campaign while the Islamic Republic still has the ability to threaten the Gulf’s oil lifeline and the economies that depend on it, three Gulf sources told Reuters.

At the same time, the same sources and five Western and Arab diplomats said the United States was pushing Gulf states to take part in the war. Three of them said US President Donald Trump wants to demonstrate regional support for the operation in order to strengthen its international legitimacy as well as backing at home.

"There is a wide feeling across the Gulf that Iran has crossed every red line with every Gulf country,” said Abdulaziz Sager, chairman of the Saudi based Gulf Research Center and familiar with government thinking.

Iran continues Gulf attacks

Iranian drones and missiles have struck energy facilities across the Persian Gulf as the United States and Israeli offensive against the Islamic Republic moves into its third week.

The United Arab Emirates halted operations at its Ruwais oil refinery last week as a precaution after a drone strike caused a fire in the industrial area where the facility is located.

The United Arab Emirates and Saudi Arabia are the only two Persian Gulf countries able to bypass the Strait of Hormuz for part of their oil exports. Riyadh has been rushing to increase shipments from its Red Sea coast.

Iran has managed to strike the United Arab Emirates repeatedly during the conflict, disrupting commercial flights and targeting energy sites on both sides of the Strait of Hormuz. This has added economic strain on the oil rich country, which has long served as a major centre for international travel.

West Asia oil exports drop at least 60%: Report

Daily oil exports from the Middle Eastern Gulf, which includes top exporter Saudi Arabia and several other major producers, have fallen by at least 60% in the week ending March 15 compared to February.

The decline comes amid disruptions and output cuts linked to the United States Iran war, according to shipping data and Reuters calculations.

The effective shutdown of the Strait of Hormuz, normally used to move about a fifth of the world’s oil supply, has forced exporters to cancel shipments and halt production at oilfields, creating the largest supply disruption ever recorded.

Crude oil prices have jumped to the highest level in four years, while prices of some fuels have reached record highs.