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Oil rises more than 1% after drone attack on UAE nuclear power plant - Finance news and analysis from Global Banking & Finance Review
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Oil rises more than 1% after drone attack on UAE nuclear power plant

Published by Global Banking & Finance Review

Posted on May 17, 2026

1 min read

· Last updated: May 17, 2026

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Oil Rises Over 1% After UAE Nuclear Power Plant Drone Attack and Middle East Tensions

Oil Prices Surge Amid Middle East Conflict and UAE Attack

Market Reaction to UAE Nuclear Power Plant Attack

SINGAPORE, May 18 (Reuters) - Oil prices extended gains on Monday as efforts to end the U.S.-Israeli war with Iran appeared to have stalled, after a nuclear power plant in the United Arab Emirates came under attack and as U.S. President Donald Trump is expected to discuss military options on Iran.

Brent and WTI Crude Futures Performance

Brent crude futures climbed $1.36, or 1.24%, to $110.62 a barrel by 2202 GMT and U.S. West Texas Intermediate was at $107.26 a barrel, up $1.84, or 1.75%.

Reporting and Editorial Credits

(Reporting by Florence Tan; Editing by Edmund Klamann)

Key Takeaways

  • A drone strike on the Barakah nuclear facility in the UAE ignited an electrical generator fire; no injuries or radiation release was reported, but global markets were rattled by the renewed escalation risk (aljazeera.com).
  • Brent crude rose about 1.24% to $110.62 per barrel, while U.S. WTI climbed 1.75% to $107.26 as fears over regional instability and stalled U.S.–Iran de‑escalation efforts weighed on market sentiment (apnews.com).
  • The incident underscores heightened energy market sensitivity to Middle East geopolitical tensions, with investors likely to reassess risks across energy and defense sectors amid fragile ceasefire dynamics (meyka.com)

References

Frequently Asked Questions

Why did oil prices rise after the UAE nuclear power plant attack?
Oil prices climbed due to increased geopolitical tensions after a drone attack on a UAE nuclear power plant stalled peace efforts in the Middle East.
How much did Brent crude and WTI increase?
Brent crude rose $1.36 (1.24%) to $110.62 a barrel, while WTI climbed $1.84 (1.75%) to $107.26 a barrel.
What impact did the attack have on global markets?
The attack heightened fears of supply disruptions, pushing oil prices up and making energy markets more volatile.
What role does the U.S. play in rising oil prices?
Concerns about U.S.-Iran tensions and possible military action contributed to higher oil prices.
Where did the reported drone attack take place?
The attack targeted a nuclear power plant in the United Arab Emirates.

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