A drone strike caused a fire at a nuclear power plant in the United Arab Emirates, officials there said on Sunday, while Saudi Arabia reported intercepting three drones, as US President Donald Trump warned that Iran must act “fast” after efforts to end the US-Israeli war with Iran appeared to have stalled. Follow our liveblog for the latest updates.
Iran war saddles global companies with $25 billion bill
The US-Israeli war with Iran has already cost companies around the world at least $25 billion – and the bill is climbing, according to a Reuters analysis.
A review of corporate statements since the start of the conflict by companies listed in the United States, Europe and Asia offers a sobering look at the fallout. Businesses are grappling with soaring energy prices, fractured supply chains and trade routes severed by Iran’s chokehold on the Strait of Hormuz.
At least 279 companies have cited the war as a trigger for defensive actions to blunt the financial hit, including price increases and production cuts, the analysis shows. Others have suspended dividends or buybacks, furloughed staff, added fuel surcharges, or sought emergency government assistance.
Oil touches two-week high after drone attack on UAE nuclear power plant
Oil prices extended gains on Monday as efforts to end the Iran war appeared to have stalled, after a nuclear power plant in the United Arab Emirates came under attack and as US President Donald Trump is expected to discuss military options on Iran.
Brent crude futures climbed $2.01, or 1.84 percent, to $111.27 a barrel by 0432 GMT, but were off the $112 they had touched earlier for their highest since May 5.
US West Texas Intermediate crude stood at $107.75 a barrel, up $2.33, or 2.21 percent after a rise to $108.70, its highest since April 30. The front-month June contract expires on Tuesday.
Both contracts gained more than 7 percent last week as hopes dimmed for a peace deal to end ship attacks and seizures around the key waterway of the Strait of Hormuz.
Israeli strike in east Lebanon kills Islamic Jihad commander
Israeli strikes killed seven people in Lebanon on Sunday, including an Islamic Jihad commander, Lebanese authorities and state media said, despite a fragile ceasefire as Hezbollah called US-brokered talks between the two countries a “dead end”.
The health ministry published a “preliminary toll” for Israel’s strikes on Sunday, with three people killed in the town of Tayr Felsay, including a child, and two killed in the town of Tayr Debba, including another child.
It said 11 people were wounded in those strikes, and four more were wounded in strikes in two other southern towns.
Drone strike causes fire at UAE nuclear plant
A drone strike caused a fire at a nuclear power plant in the United Arab Emirates, officials there said on Sunday.
Emirati officials said they were investigating the source of the strike and that the UAE had the full right to respond to such “terrorist attacks”. A diplomatic adviser to the UAE president said it represented a dangerous escalation, whether carried out by “the principal perpetrator” or one of its proxies.
The UAE defence ministry said two other drones had been “successfully” dealt with, and that the drones had been launched from the “western border”. It did not elaborate.
Welcome to the FRANCE 24 liveblog covering events in the Middle East. Click here to catch up on what happened yesterday.
• A drone strike sparked a fire near the United Arab Emirates’s Barakah nuclear power plant, in an attack Abu Dhabi condemned as a threat to regional security.
• US President Donald Trump issued a fresh warning to Iran on Sunday, saying it had to move quickly towards a peace deal or “there won’t be anything left of them”.
