Largest Refinery in Middle East on Fire After Drone Strike
- 2 hours ago
- 1 min read
Source: Hal Turner
United Arab Emirates Abu Dhabi confirms an Iranian drone impacted the Ruwais Industrial Complex. Authorities are battling a fire at the scene, but report no injuries.
There are many businesses at the Ruwais Industrial Complex including the fourth largest oil refinery in the world. It is as yet unclear if the refinery is what's burning, but it appears from the massive plume of dense, black smoke, it IS the refinery.
This fits pattern of Iran retaliatory strikes in ongoing conflict (~day 12). Oil already spiked sharply (Brent over $120 amid Hormuz/refinery hits elsewhere). This adds pressure, but full impact depends on damage/containment—$150+ per barrel is possible if supply shocks widen, not certain from this incident alone.
Markets reacting now.
Related: Previous Iranian Oil Storage Hit by US/Israel
