UAE's Adnoc says two of its vessels attacked in Hormuz

UAE oil major ADNOC said two of its vessels were attacked in the Strait of Hormuz.

The Strait of Hormuz is one of the world's most critical energy transit chokepoints, with roughly a fifth of global oil consumption passing through it daily. Any disruption to shipping there has historically rattled energy markets, given that the narrow waterway handles crude and LNG exports from Saudi Arabia, the UAE, Kuwait, Iraq, Iran, and Qatar.

ADNOC, the Abu Dhabi National Oil Company, is the UAE's state-owned energy giant, with operations spanning upstream production, gas, refining, petrochemicals and shipping through listed subsidiaries such as ADNOC Gas and ADNOC Drilling. Its Murban crude is a key Gulf benchmark. Group CEO Sultan Al Jaber also serves as the UAE's Industry Minister.

Oil prices fell on Thursday despite the ongoing chaos.

Yesterday, a UAE-Iran asset transfer was reported.

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