Brent Jumps $5 After Targeting Fujairah Oil Facilities

Brent crude prices jumped sharply in May 2026, exceeding the $114 per barrel mark. The gains in Spring 2026 came immediately after Fujairah announced its facilities were targeted by a drone attack. Mid-May 2026 trading saw WTI crude leap to $105.24 due to the escalation. Markets in 2026 fear the impact on global energy flows resulting from tensions in the Strait of Hormuz.