Fujairah

JSW Infrastructure Expects 127 MT Cargo, Fujairah Operations Impacted by US-Iran Conflict

JSW Infrastructure anticipates handling 127 MT cargo this fiscal year, despite the US-Iran conflict impacting its Fujairah liquid terminal in the UAE. Operations are gradually normalizing, with insurance claims expected by October-end. The company also progresses with domestic port expansion plans, reporting an 8.2% drop in June quarter net profit.

UAE's First Passenger Train Service Launched, Linking Fujairah and Abu Dhabi

The UAE launched its first passenger train service, operated by Etihad Rail, connecting Fujairah and Abu Dhabi in 1 hour and 45 minutes. The inaugural journey was met with celebrations, and over 10,000 tickets were sold pre-launch, with further expansion plans for the national network already underway.

Etihad Rail Passenger Services to Launch on June 30

Etihad Rail's passenger train service will commence on June 30, offering a fast, comfortable, and congestion-free alternative to road travel across the UAE. The phased rollout will initially connect Abu Dhabi, Dubai, and Fujairah, with plans to eventually link 11 cities.

UAE Builds Pipeline to Bypass Iran-Blockaded Strait of Hormuz, Aiming for 2027 Operation

The UAE is nearing completion of a pipeline to bypass the Iran-blockaded Strait of Hormuz, set to double ADNOC's export capacity through Fujairah by 2027, amid severe global energy disruptions.

Iran Demands Cooperation from Ships in Strait of Hormuz Amid Tensions

Iran's Foreign Minister Abbas Araghchi has stated that ships entering the Strait of Hormuz must cooperate with the Iranian navy, amidst reports of a ship being seized near a UAE port. Iran claims the strait remains open for commercial ships under its naval oversight. This comes after the US imposed a counterblockade on Iranian ports, stranding thousands of ships. Araghchi, speaking at a Brics meeting in India, denounced US and Israeli actions, calling them violations of international law, and urged Brics nations to condemn these violations. He also warned the UAE that cooperation with Israel would not ensure protection. Meanwhile, a new UN Security Council resolution, sponsored by Bahrain and the US, condemning Iran's blockade is set for discussion, with Iran facing potential rebuff. However, Iran claims a deal with China has allowed oil tankers bound for China to pass through the strait since Wednesday, with China agreeing to limited charging, potentially undercutting US opposition.

India, UAE working on pact to help in evacuation of Indians via Fujairah port

India and UAE are finalizing an agreement to facilitate the evacuation of Indian workers via Fujairah port, a move likely to be signed during PM Modi's upcoming stopover. This pact addresses potential disruptions from the West Asia conflict, offering a crucial maritime route for over 4 million Indian workers in the UAE.

Iran-UAE tensions are pushing Bitcoin toward a record bond-market danger zone

Iran's attack on ships in the Strait of Hormuz and a drone strike on the Fujairah Oil Industry Zone sent Brent crude to $114.44 and WTI to $106.42, while the 10-year Treasury yield climbed to roughly 4.44% and the 30-year broke above 5%. Bitcoin registered an intraday high of $80,717.66 on May 4, putting its […] The post Iran-UAE tensions are pushing Bitcoin toward a record bond-market danger zone appeared first on CryptoSlate.

Iran-UAE escalation pushes Bitcoin’s bond-market test into the 4.5% danger zone

Iran's attack on ships in the Strait of Hormuz and a drone strike on the Fujairah Oil Industry Zone sent Brent crude to $114.44 and WTI to $106.42, while the 10-year Treasury yield climbed to roughly 4.44% and the 30-year broke above 5%. Bitcoin registered an intraday high of $80,717.66 on May 4, putting its […] The post Iran-UAE escalation pushes Bitcoin’s bond-market test into the 4.5% danger zone appeared first on CryptoSlate.

'Unacceptable': MEA condemns attack on UAE's Fujairah that injured three Indians

Oil price today: Crude touches $113 per barrel after UAE oil storage facility hit

Oil prices surged Tuesday as Iranian-linked attacks and military clashes heightened fears of disruption in the Strait of Hormuz. Brent crude rose 6% to $114.44 a barrel, while WTI settled 4% higher at $106.42. The Fujairah Oil Industry Zone was struck by a drone, with Emirati officials blaming Iran.

Middle East crisis: 3 Indians injured after drone strike sparks fire in UAE

A drone strike from Iran injured three Indian nationals in Fujairah, UAE, igniting a fire at the petroleum industries zone. UAE defense confirmed four missiles were launched, with three intercepted. The Indian Embassy is ensuring medical care for the injured. This incident escalates regional tensions concerning energy infrastructure security.

Oil prices higher as Trump announces "Project Freedom" to free ships trapped in Hormuz Strait closure

Oil prices rose Monday as Trump announced "Project Freedom," a U.S. military operation to free cargo ships trapped by the Strait of Hormuz closure. Brent crude futures jumped 2.27% to $110.63/barrel while WTI added 1.98% to $103.96. The operation involves destroyers, over 100 aircraft, and 15,000 service members. Meanwhile, a tanker was hit by projectiles north of Fujairah, UAE, highlighting shipping dangers. OPEC+ also agreed to increase output by 188,000 bpd. Analysts warn $125 Brent could trigger global recession.

Oil prices mixed as Trump announces 'Project Freedom' to free ships trapped in Strait of Hormuz

Oil prices were mixed Monday with Brent at $101.94 and WTI at $108.33 as Trump announced 'Project Freedom' to free ships trapped by the Strait of Hormuz closure. A tanker was hit by projectiles north of Fujairah, UAE, highlighting shipping dangers. Meanwhile, OPEC+ agreed to a 188,000 bpd output increase. Moody's Analytics warned that sustained oil prices around $125 could push the global economy into recession.

Oil Prices Decline as U.S. Launches 'Project Freedom' to Clear Strait of Hormuz

Oil prices dipped as markets weighed the U.S. military's 'Project Freedom' to clear trapped ships in the Strait of Hormuz and a modest output increase from OPEC+.

Oil Prices Rise as Trump Launches 'Project Freedom' to Free Stranded Ships in Hormuz Strait

Oil prices rose modestly in choppy trade Monday as markets assessed Trump's announcement of 'Project Freedom' to free ships trapped by the Strait of Hormuz blockade. Brent crude futures rose 0.12% to $102.09 per barrel while WTI gained 0.18% to $108.36. The operation involves U.S. military assets including guided-missile destroyers, over 100 aircraft, and 15,000 service members. Meanwhile, a tanker was hit by projectiles north of Fujairah, UAE, highlighting ongoing risks. OPEC+ also agreed to increase output by 188,000 barrels per day.