Port Of Fujairah Hit Again: Oil Loading Suspended For Second Time In Three Days

The Port of Fujairah in the United Arab Emirates was reportedly struck again on Monday, forcing the suspension of oil loading operations for the second time in three days, as the International Energy Agency warned of unprecedented disruption to global oil flows from the ongoing conflict.

Oil loading at Fujairah was halted Monday as a precautionary measure while damage from the latest strike was being assessed, according to people familiar with the matter who asked not to be identified as they are not authorized to speak to Bloomberg.

Loading operations had restarted over the weekend after a drone strike on Saturday caused a fire at oil storage facilities at the port.

Fujairah is a major hub for both crude oil and refined fuels, and has taken on increased strategic significance for the UAE and global markets because of its position outside the Strait of Hormuz, which has been all but closed since the war began.

The port sits at the end of a pipeline connecting it to Abu Dhabi's main oil fields, making it the UAE's only export route that bypasses the strait.