Iranian drones hit UAE's Fujairah oil hub and a tanker on May 4, 2026, sending Brent crude past $114 per barrel and pushing prices toward $120. The Strait of Hormuz closed again on May 4, 2026, triggering sharp market moves including a spike in the 10-year U.S. Treasury yield to 4.45%. The U.S. denied reports of a warship being hit while pledging to help free trapped vessels.
Iranian drone strikes
- ▪The Strait of Hormuz closed again on May 4, 2026
- ▪Iran issued threats in response to the U.S. saying it will help free trapped vessels in Hormuz
- ▪Iranian drones hit a UAE tanker on May 4, 2026
- ▪Iranian drones hit UAE's Fujairah oil hub on May 4, 2026
- ▪The 10-year U.S. Treasury yield spiked to 4.45% after Iranian drones hit UAE's Fujairah oil hub on May 4, 2026
Oil price surge
- ▪Brent crude jumped past $114 per barrel after Iranian drones hit UAE's Fujairah oil hub on May 4, 2026
- ▪Brent futures for July jumped 3.7% to reach $112.14 per barrel
- ▪Oil markets are fluctuating sharply over dual signals from the Persian Gulf
- ▪Oil prices pushed toward $120 per barrel after Iranian drones hit a UAE tanker on May 4, 2026
Perspective of United States
- ▪The United States said it will help free trapped vessels in the Strait of Hormuz, prompting threats from Iran
- ▪The United States denied reports that a U.S. warship was hit in the May 4, 2026 Iranian drone attacks on UAE infrastructure
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