Iranian Drones Strike UAE Oil Infrastructure, Sending Brent Crude Above $114

May 5, 2026

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.