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Drone attack targets UAE refinery and may drive oil higher, Jesse Cohen warns

Drone attack targets UAE refinery and may drive oil higher, Jesse Cohen warns
UAE refinery attack raises oil price risk

The Fujairah oil refinery in the United Arab Emirates has been targeted by an Iranian Shahed drone, according to Jesse Cohen.

This event raises concerns about potential disruptions to oil supply and the possibility of a significant price increase, with speculation that oil could reach $120 on Monday.

The heightened volatility in the energy sector following the Fujairah refinery incident draws parallels to broader market dynamics, such as when investor sentiment shifted amid rising short positions, as highlighted in the analysis of Michael Burry's expanding following. Reports of sudden market surges also resonate with earlier coverage of Nvidia's 67% revenue leap in Q4, underscoring how geopolitical events and corporate performance can quickly reshape financial landscapes.

This material may contain third-party opinions, none of the data and information on this webpage constitutes investment advice according to our Disclaimer. While we adhere to strict Editorial Integrity, this post may contain references to products from our partners.

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