Oil prices soar as Iran hits UAE terminal
Oil just got a lot pricier, crossing the $100 per barrel mark, after President Trump warned Iran about possible strikes on its main oil hub, Kharg Island.
Things got even more tense when Iran launched a drone attack on a major UAE oil terminal, raising fresh worries about global energy supplies.
What to expect next
With both West Texas and Brent crude shooting past $100, everyone's watching closely.
Kharg Island handles nearly 90% of Iran's oil exports, so any hit there could shake up global markets.
The US is now weighing its options (including targeting Iranian nuclear sites and boosting security in the region), which could keep oil prices volatile for a while.
Meanwhile, the UAE's Fujairah port is still recovering from the drone strike, reminding us how quickly Middle East tensions can ripple out to affect gas prices everywhere.