Some oil-loading operations in UAE hub of Fujairah suspended after fire: Reuters

Some oil-loading operations have been suspended in Fujairah, a city in the United Arab Emirates and a key bunkering hub, after a fire broke out there, Reuters reported on Saturday quoting industry and trade sources.

The reported fire comes after the U.S. attacked Iran’s Kharg island, a key regional oil hub, on Friday.

The fire in Fujairah started after debris fell as a drone was intercepted, Reuters reported. No one was injured, according to the report.

A spokesperson for Abu Dhabi’s state oil giant, ADNOC, which operates in Fujairah, declined to immediately confirm to CNBC the reports of the fire.

Iran’s Islamic Revolutionary Guard Corps, its most elite military institution, said on Saturday that U.S. interests in the UAE, including ports, docks and military locations are legitimate targets following the U.S.’ attacks on Iranian islands, Reuters reported.

U.S. President Donald Trump said he directed the U.S. Central Command to carry out a bombing raid, hitting military targets on Kharg. He added that U.S. forces did not “wipe out” the island’s oil infrastructure.

On Friday, Brent crude oil futures closed above $100 per barrel for the second straight day. The global oil benchmark’s price has surged more than 40% since the Iran war started.

Analysts have said that the prospect of a U.S. move to seize Kharg Island, a strategically vital hub often referred to as Iran’s “oil lifeline,” is considered extremely high risk, both from a geopolitical and economic standpoint.

The five-mile-long coral island, which is located about 15 miles off the coast of mainland Iran in the waters of the northern Persian Gulf, had been left untouched through nearly two weeks of U.S. and Israeli-led strikes against Iran.

— CNBC’s Emma Graham and Reuters contributed to this report.