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Why does UAE’s Fujairah port matter to the oil market?

The port is located on the Gulf of Oman, approximately 70 nautical miles from the Strait of Hormuz. Some oil-loading operations have been suspended in the United Arab Emirates’ (UAE) Fujairah port, a major global hub for refuelling ships as well as crude and fuel exports, after a drone attack and fire on Saturday. Why does Fujairah matter globally?... [1790 chars]

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