Iran attacks UAE's Al Minhad air base with drones, IRGC says - report
Iran attacked the Al Minhad air base in the United Arab Emirates, targeting US forces and helicopters stationed there on Monday morning, Iranian state media said.
The Islamic Revolutionary Guard Corps (IRGC) of Iran claimed responsibility for shooting down a US MQ-9 drone over the Strait of Hormuz, resulting in the drone's crash into the Gulf waters, according to Mehr news agency. The IRGC also reported that its aerospace forces conducted retaliatory drone and ballistic missile strikes against US targets at two air bases in Jordan earlier that day.
The IRGC stated that these strikes were a response to the U.S. and Israeli military aggression against Iran's southern Larak Island in Hormozgan province on Sunday night. The Iranian military stressed that it would respond decisively to any further hostile military actions, while also asserting that all ships must adhere to its regulations for passage through the Strait of Hormuz.
Meanwhile, Iranian President Masoud Pezeshkian affirmed on Monday that his nation does not seek war but will respond to any aggressions following the reported clashes between Washington and Tehran on Sunday. The West Texas Intermediate (WTI) oil price rose by 2.22% on Monday, reaching $84.60 per barrel. WTI is a high-quality crude oil sold on international markets, known for its low gravity and sulfur content.
The price of WTI is influenced by supply and demand, global growth, political instability, wars, sanctions, OPEC decisions, the US Dollar's value, and weekly Oil inventory reports. OPEC, a group of 12 oil-producing nations, collectively determines production quotas for its member countries at twice-yearly meetings, which can significantly impact WTI oil prices.
Gold prices saw mild selling pressure on Monday, trading around $4,170. The US Dollar experienced modest gains in thin trading, with hopes of at least one more Federal Reserve rate hike before year-end. Bitcoin hovered around $83,600, down 3.1% from the previous week, as investors remained cautious amid geopolitical uncertainties and mixed signals.
US and European stock markets were expected to open higher, as risk sentiment was not significantly affected by the Middle East escalation and rising bond yields.
Written by urgent.news from FXStreet's reporting — not their text. Machine-written — may contain errors; check the original before relying on it.
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- World : Iran Says It Downed US Drone Over Strait Of Hormuz bernama.com
- War becomes the new normal in the Strait of Hormuz lemonde.fr
- Iran’s IRGC claims it shot down US drone, attacked UAE air base fxstreet.com
- US Central Command denies tanker hit mines in Strait of Hormuz, accuses Iran of intimidation english.ajel.sa
- CENTCOM rejects IRGC claim of strikes in Strait of Hormuz as ‘act of aggression’ hindustantimes.com
