Oil Hits Two Week High After UAE Nuclear Plant Attack

Brent Crude Oil futures rose 1.32% to $110.70 a barrel following a drone strike on a nuclear facility in the United Arab Emirates. Prices hit a two-week high as diplomatic efforts to end the conflict between the United States, Israel, and Iran stalled. Oil markets extended a 7% gain from the previous week amid proxy attacks on critical energy infrastructure in the Persian Gulf.

### Escalation Risks in the Persian Gulf A drone targeted the Barakah nuclear power plant in the UAE. Emirati officials said they are investigating the strike and maintained the right to respond to the attack. This follows a separate incident where Saudi Arabia intercepted three drones entering its airspace from Iraq.