Ambrey says a merchant vessel reported hearing the sound of an explosion at an undetermined distance from the vessel, approximately in UAE's Al Sharjah Anchorage

The report of an explosion near Al Sharjah Anchorage raises concerns about maritime security in a critical transit point. This incident could lead to heightened tensions in the region, impacting oil prices and risk sentiment, especially as it unfolds during trading hours for both the EU and US sessions. Traders should watch for any further developments, as escalations could lead to volatility in related assets, including crude oil and gold.