It’s all coming undone today.
It looks like Iran sensed that something was coming and decided to strike first. The UAE’s oil export facilities were its first target as it tries to maintain control of the Strait of Hormuz.
There are also videos of a cargo ship on fire.
The US attempted to break the blockade today but it looks like that triggered a response from Iran. Now we might be back to escalation.
The oil market is clearly worried with brent prices surging.
Other reports say US airforce jets were scrambled over UAE and other gulf states now conducting combat air patrols and likely helping shoot down incoming missiles and drones.
As for the headline here, it’s from Dubai, which isn’t exactly calling the shots in this war and has been pining for a US escalation for awhile. I’d guess this is more of Dubai saying it expects the US to help, not that Trump has called them and told them his plans.
This article was written by Adam Button at investinglive.com.
