The UAE Defence Ministry reported that it intercepted 12 ballistic missiles, three cruise missiles, and four drones launched by Iran on Monday. This escalation in military tensions is likely to impact regional risk appetite, leading to increased volatility in oil prices due to concerns over supply disruptions in the Gulf. Energy markets, particularly crude oil, are most exposed as heightened geopolitical risks can lead to fears of supply constraints. Traders will closely watch for any further military developments or retaliatory actions from either side, as well as upcoming OPEC+ meetings that could influence production decisions amidst these tensions.
UAE DEFENCE MINISTRY: CONFRONTED 12 BALLISTIC MISSILES, THREE CRUISE MISSILES, AND FOUR DRONES LAUNCHED BY IRAN ON MONDAY — STATEMENT.
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