On Tuesday, oil prices saw dramatic fluctuations, falling from over $119 per barrel on Monday night to swinging between $94 and $87 during the day. Commodity analyst Ole Hvalbye from SEB remarked on the extreme volatility in the market, indicating that such movements are a sign of significant uncertainty among market players who are struggling to determine reasonable price points. The situation has been exacerbated by the emergence of various incidents that potentially impact oil prices. A major factor contributing to the increased volatility is the report of a drone attack on an oil refinery located in the United Arab Emirates. This incident has raised concerns, as it resulted in a fire and the temporary shutdown of parts of the production facility. Bloomberg, citing sources, provided details about the attack, which occurred in Ruwai, a key center for oil production in the UAE. Analysts speculate that this incident could have critical implications for the global oil supply and market stability. As the afternoon progressed on Tuesday, oil prices began to rise again following the news of the drone attack. The market's response indicates a direct correlation between geopolitical events and oil prices, reflecting how susceptible the market is to instability in oil-producing regions. Consequently, investors and industry experts are closely monitoring the developments in the UAE, as the ramifications of such attacks could lead to more significant shifts in oil prices, thereby affecting the broader energy market as well.