On Tuesday, oil prices experienced a significant surge of about 3% as tensions escalated in the Middle East due to renewed Iranian strikes on the United Arab Emirates (UAE). Brent crude futures saw an increase of $3.27, or 3.3%, reaching $103.48 a barrel, while U.S. West Texas Intermediate rose by $3.14, or 3.4%, to $96.64. The attacks specifically targeted the UAE's Shah gas field and Fujairah port, causing ADNOC, the state oil company, to suspend loading operations. These actions have reignited fears over the stability of oil supplies amid growing geopolitical tensions.