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FLASH: Iran launches multiple missiles at the UAE; one strikes Fujairah Oil Industry Zone as crude jumps back to $119

Iran fired multiple missiles toward the UAE, and one reportedly hit the Fujairah Oil Industry Zone. Fujairah is a critical energy hub for the UAE because it provides large-scale oil storage, refining and export infrastructure outside the Strait of Hormuz. For global oil markets, the port functions as a key staging point for traders and ship operators, supporting crude and product inventories as well as vessel bunkering. The location also gives oil companies a strategic base to manage supply flows, pricing and exports. Crude oil prices surged back to $119. The market is now watching how Trump will respond.
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