Source: Reuters
“Oil prices extended gains on Monday, driven by increasingly bleak prospects for peace in the Middle East after an attack on a nuclear power plant in the United Arab Emirates. … Drone attacks on the UAE and Saudi Arabia and the rhetoric from the United States and Iran raised concerns of an escalation in the conflict. Saudi Arabia, which intercepted three drones that entered from Iraqi airspace, warned it would take the necessary operational measures to respond to any attempt to violate its sovereignty and security. Emirati officials, meanwhile, said they were investigating the source of the strike on the Barakah nuclear power plant, adding that the UAE had the right to respond to what it said were ‘terrorist attacks.'” (05/17/26)