Event Brief
Brent jumps to $114 after UAE oil hub hit
Filed: May 05, 2026 at 8:05 AM ET
Summary: Brent crude futures rose about 5.36% to around $113.97 after Iranian missiles struck the Fujairah oil hub and a tanker was hit near the Strait of Hormuz.
WHO: Brent crude futures
WHAT: Brent crude futures surged following strikes on the Fujairah oil hub and a tanker near the Strait of Hormuz
WHEN: May 05, 2026 at 6:54 AM ET
WHERE: Fujairah, United Arab Emirates
WHY: The price move was triggered by Iranian missiles striking the Fujairah oil hub and a drone hit on a tanker near the Strait of Hormuz.
ℹ️ This event is analyzed using pattern arcs, velocity indicators, and source analysis in our MI Console.
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