Oil slips as rising U.S. crude inventories offset attacks on UAE energy infrastructure
By Lee Ying Shan
Published on March 18, 2026.
Oil prices have dropped despite increasing attacks on the United Arab Emirates' energy infrastructure. The rise in U.S. crude inventories offset rising geopolitical risk premiums. The international benchmark, Brent, fell 1.17% to $102.19 per barrel. Recent incidents have included a drone attack on the world's largest ultra-sour gas facility, a fire at the Fujairah Oil Industry Zone, and damage to a tanker near the Strait of Hormuz. The UAE reopened its airspace after a temporary shutdown due to drone strikes. Meanwhile, operations at the Shah gas field remain suspended due to a separate drone attack.
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