UAE Ministry of Defense says "UAE air defenses are dealing with missile and drone attacks coming from Iran", via Sky News Arabia

The statement from the UAE Ministry of Defense regarding missile and drone attacks from Iran underscores a significant escalation in regional tensions, which could prompt a more pronounced military response. This development is likely to influence energy markets, particularly oil prices, due to potential supply disruptions and heightened geopolitical risk in the Gulf region, a critical area for oil transit. Traders should monitor crude prices for volatility as sentiment around stability in the region fluctuates.