UAE back in the headlines
There are reports of a blast heard in Dubai. We'll monitor for any further news.
Update: there's talk that an oil tanker exploded in the port.
That port is the busiest in the Middle East and ninth busiest in the world.
Reports differ on whether this was an oil tank or oil tanker.
In any case, oil prices have ticked up modestly to $72.00 in a 15-cent gain. That the UAE is in a dispute about oil with OPEC and an oil tanker blew up in its largest harbor is quite the coincidence but I said the same thing about two explosions in Iran a few weeks back and video showed that at least one of them was a result of steel fatigue in an oil tank.
Update 2: Reuters reports that a fire has broken out in a container within a ship anchored at the port. No word if it's an oil tanker.
Crude Oil
