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Iranian Drones Target UAE, Oil Prices Surge Past 0 Amid Ceasefire Strain
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Iranian Drones Target UAE, Oil Prices Surge Past $100 Amid Ceasefire Strain

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Last updated: May 8, 2026 3:21 pm
Scoopico
Published: May 8, 2026
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The United Arab Emirates faced a fresh barrage of Iranian drones and missiles early this morning, testing the shaky ceasefire between the United States and Iran. Residents in Dubai reported hearing explosions overnight as air defense systems sprang into action.

Contents
UAE Intercepts Iranian AttacksOil Prices Climb on Escalation FearsU.S. Navy Repels Iranian AssaultCeasefire Holds Since April, Pakistan Pushes for Deal

UAE Intercepts Iranian Attacks

No immediate damage resulted from the strikes launched by Tehran, according to officials. The UAE Ministry of Defense issued a warning to the public, urging residents to avoid any debris or fragments from successful interceptions. In a statement on X, the ministry confirmed: “The UAE’s air defences are currently dealing with missile and drone attacks originating from Iran, and the Ministry of Defense confirms that the sounds heard in various parts of the country are the result of the UAE air defence systems intercepting ballistic missiles, cruise missiles, and drones.”

Iran has repeatedly targeted the UAE and other Gulf states hosting U.S. military bases in retaliation since the conflict erupted on February 28.

Oil Prices Climb on Escalation Fears

Oil markets reacted swiftly, with Brent crude jumping 4.1% to approximately $100 per barrel from $96 the previous day. Despite the rise, prices remain about 7% lower than $108 a week earlier, buoyed by optimism over a potential U.S.-Iran deal to end the war and reopen the Strait of Hormuz—a key shipping route largely blocked by Tehran to disrupt global trade.

Challenges persist, including Iran’s nuclear program, which the U.S. and Israel aim to curb following their initial strikes on February 28.

U.S. Navy Repels Iranian Assault

President Donald Trump minimized yesterday’s clash in the Strait of Hormuz, where U.S. forces intercepted an Iranian attack on three Navy ships. U.S. Central Command reported that American personnel downed the unprovoked assault and launched self-defense strikes on Iranian positions. No U.S. vessels sustained damage, and forces emphasized readiness to defend without seeking further escalation.

During a call with reporters, Trump described the response as “just a love tap.” He affirmed the ceasefire remains intact, predicting a deal “any day,” while warning: “They have to understand: If it doesn’t get signed, they’re going to have a lot of pain.”

Iranian state media reported exchanges of fire with enemy forces on Qeshm Island and defensive actions in western Tehran late Thursday.

Ceasefire Holds Since April, Pakistan Pushes for Deal

The truce, effective since April 8, has endured despite recent flare-ups. Last month’s direct talks in Pakistan failed to resolve the two-month conflict. Pakistani Foreign Minister Ishaq Dar discussed the situation by phone with his Iranian counterpart, Abbas Araghchi.

Foreign Ministry spokesperson Tahir Andrabi stated: “We expect an agreement sooner rather than later.” He added: “We hope the parties will reach a peaceful and sustainable solution that will contribute not only to peace in our region but to international peace as well.” Prime Minister Shehbaz Sharif affirmed Islamabad’s ongoing mediation efforts with both Iran and the United States.

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