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Though reserves are being presented for release, supply is still heavily affected as officials in the United Arab emirates said their oil industry zone in fujairah had been hit by a second drone strike. Iranian attacks have caused shutdowns at refineries in saudi arabia, the uae,Bahrain and Israel.…

Though reserves are being presented for release, supply is still heavily affected as officials in the United Arab emirates said their oil industry zone in fujairah had been hit by a second drone strike. Iranian attacks have caused shutdowns at refineries in saudi arabia, the uae,Bahrain and Israel. The closure of shipping lanes has forced producers to cut output as they can no longer export their barrels.