CrudeTuesday, 5 May 2026·India
India criticizes Iran strike on Fujairah, urges de-escalation as oil prices climb
India has strongly condemned Iran following a recent attack on Fujairah, a key oil hub located near the Strait of Hormuz, and called for an immediate end to escalating tensions in the region. According to official statements, three Indian nationals were injured during the incident.
In its response, India’s Ministry of External Affairs described the attack as unacceptable and emphasized the need for dialogue and diplomatic engagement between the parties involved. It also stressed the importance of ensuring uninterrupted maritime trade and safe navigation through the Strait of Hormuz.
The incident comes after the UAE reported that a combination of drone and missile strikes from Iran triggered a fire at a refinery in Fujairah. The attack has added to existing tensions and pushed oil markets higher, with Brent crude rising above $114 per barrel.
The situation has further intensified following the United States’ announcement of an initiative aimed at assisting vessels stranded in the Strait of Hormuz. In response, Iran issued a warning indicating that any foreign military presence in the area could face direct action.
According to UAE authorities, air defense systems were activated to intercept multiple incoming threats, including ballistic missiles, cruise missiles, and drones. The UAE has strongly condemned the attack, labeling it as a direct strike on civilian infrastructure, and has indicated that it may respond in a way that safeguards its national security and territorial integrity.
The developments highlight rising geopolitical tensions in the region, with global markets closely monitoring the situation due to its potential impact on energy supply and international trade routes.
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In its response, India’s Ministry of External Affairs described the attack as unacceptable and emphasized the need for dialogue and diplomatic engagement between the parties involved. It also stressed the importance of ensuring uninterrupted maritime trade and safe navigation through the Strait of Hormuz.
The incident comes after the UAE reported that a combination of drone and missile strikes from Iran triggered a fire at a refinery in Fujairah. The attack has added to existing tensions and pushed oil markets higher, with Brent crude rising above $114 per barrel.
The situation has further intensified following the United States’ announcement of an initiative aimed at assisting vessels stranded in the Strait of Hormuz. In response, Iran issued a warning indicating that any foreign military presence in the area could face direct action.
According to UAE authorities, air defense systems were activated to intercept multiple incoming threats, including ballistic missiles, cruise missiles, and drones. The UAE has strongly condemned the attack, labeling it as a direct strike on civilian infrastructure, and has indicated that it may respond in a way that safeguards its national security and territorial integrity.
The developments highlight rising geopolitical tensions in the region, with global markets closely monitoring the situation due to its potential impact on energy supply and international trade routes.
Stay ahead of market trends with the Credco app. For any queries, please reach out via WhatsApp at +91 8448083211.