IRAN UPDATE – 05/04/26 AM – Stocks Dump, Oil & Bond Yields Jump After Iran Missile/Drone Strikes On Dubai & UAE Oil Infrastructure
US rejects Iran’s claim it struck warship near Hormuz after Trump’s vow to aid stranded ships…
Summary
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Fujairah says 3 injured in Iranian attack on Oil Industry Zone
- Following a report from the UAE National Emergency Crisis and Disaster that the country’s “air defenses are now dealing with a missile threat”, we have gotten reports of explosions in Dubai, which has sent oil higher and Emini futures into the red.
- CENTCOM hails two US merchant ships exiting Hormuz Strait safely in “first step”. Bessent issues remarks warning the US “will fire if fired upon.”
- Iran insists Hormuz is under its control & says it targeted & struck a US Navy vessel, which the Pentagon/Central Command has denied.
- Trump announced Sunday US will ‘help free up’ ships stuck in Hormuz Strait through Project Freedom.
- Iran has in response issued a “redefined the control zone” in Strait of Hormuz.
- Pakistan facilities good faith return of Iranian crew members of US-seized merchant ship from two weeks ago.