UAE Ministry of Defence says air defences are currently dealing with missile and drone attacks coming from Iran

The reports of missile and drone attacks targeting the UAE, attributed to Iran, indicate heightened regional tensions that could impact energy markets, particularly oil prices. Such geopolitical risks often compel traders to adjust their positions in safe-haven assets and could lead to fluctuations in WTI prices if the situation escalates further or disrupts supply. It's crucial to monitor any further developments, as this could represent either a temporary spike or a shift in the regional stability landscape.