{"id":34769,"date":"2026-05-18T15:29:55","date_gmt":"2026-05-18T13:29:55","guid":{"rendered":"https:\/\/www.channelafrica.co.za\/channelafrica\/?post_type=news&#038;p=34769"},"modified":"2026-05-18T15:29:55","modified_gmt":"2026-05-18T13:29:55","slug":"oil-touches-two-week-high-after-drone-attack-on-uae-nuclear-power-plant","status":"publish","type":"news","link":"https:\/\/www.channelafrica.co.za\/channelafrica\/news\/oil-touches-two-week-high-after-drone-attack-on-uae-nuclear-power-plant\/","title":{"rendered":"Oil touches two-week high after drone attack on UAE nuclear power plant"},"content":{"rendered":"<div dir=\"auto\">Oil prices extended gains on Monday \u200cas efforts to end the Iran war appeared to have stalled, after a nuclear power plant in the United Arab Emirates (UAE) came under attack and as United States (USA) President Donald Trump is expected to discuss military options on Iran.<\/div>\n<div dir=\"auto\"><\/div>\n<div dir=\"auto\">Brent crude \u200bfutures climbed $1.65, or 1.51%, to $110.91 a barrel, but were off the $112 they had touched \u200bearlier for their highest since May 5.<\/div>\n<div dir=\"auto\"><\/div>\n<div dir=\"auto\">US West Texas Intermediate crude stood at $107.42 \u2060a barrel, up $2, or 1.9%, after a rise to $108.70, its highest since April 30. The front-month June contract \u200bexpires on Tuesday.<\/div>\n<div dir=\"auto\"><\/div>\n<div dir=\"auto\">Both contracts gained more than 7% last week as hopes dimmed for a peace deal \u200bto end ship attacks and seizures around the key waterway of the Strait of Hormuz.<\/div>\n<div dir=\"auto\"><\/div>\n<div dir=\"auto\">Last week&#8217;s talks between Trump and Chinese President Xi Jinping ended without an indication from the world&#8217;s top oil importer that it would help resolve the \u200bconflict unleashed by the US and Israeli attacks on Iran.<\/div>\n<div dir=\"auto\"><\/div>\n<div dir=\"auto\">Drone attacks on the UAE and Saudi Arabia and rhetoric from \u200bthe US and Iran raised concerns of an escalation in the conflict.<\/div>\n<div dir=\"auto\"><\/div>\n<div dir=\"auto\">Oil prices hit the heart of the US shale industry<\/div>\n<div dir=\"auto\"><\/div>\n<div dir=\"auto\">&#8211;Reuters&#8211;<a title=\"Original URL: https:\/\/sabc-plus.com\/. Click or tap if you trust this link.\" href=\"https:\/\/zaf01.safelinks.protection.outlook.com\/?url=https%3A%2F%2Fsabc-plus.com%2F&amp;data=05%7C02%7CMalobolaBM%40sabc.co.za%7C3c7a34687c0f47f41d0b08deb4b6c83d%7C17694f0c19394195913e8542ec6bea22%7C0%7C0%7C639146894288038616%7CUnknown%7CTWFpbGZsb3d8eyJFbXB0eU1hcGkiOnRydWUsIlYiOiIwLjAuMDAwMCIsIlAiOiJXaW4zMiIsIkFOIjoiTWFpbCIsIldUIjoyfQ%3D%3D%7C0%7C%7C%7C&amp;sdata=ZromqqODvkMPjHAHg1fWY0UYDlqrEs1ptJocuyxLPrc%3D&amp;reserved=0\" target=\"_blank\" rel=\"noopener noreferrer\" data-auth=\"NotApplicable\" data-linkindex=\"0\" data-outlook-id=\"23bc46d4-4dbc-4395-954f-10aa63062413\"><img decoding=\"async\" src=\"data:image\/gif;base64,R0lGODlhAQABAIAAAAAAAP\/\/\/yH5BAEAAAEALAAAAAABAAEAAAIBTAA7\" data-imagetype=\"External\" data-imageproxyendpoint=\"\/actions\/ei\" \/><\/a><\/div>\n","protected":false},"featured_media":20970,"template":"","meta":{"_acf_changed":false},"news-type":[44],"class_list":["post-34769","news","type-news","status-publish","has-post-thumbnail","hentry","news-type-finance","entry"],"acf":{"short_description":"","published_date":"","news_description":"Oil prices extended gains","form_embed":"","author":"","image_caption":""},"_links":{"self":[{"href":"https:\/\/www.channelafrica.co.za\/channelafrica\/wp-json\/wp\/v2\/news\/34769","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.channelafrica.co.za\/channelafrica\/wp-json\/wp\/v2\/news"}],"about":[{"href":"https:\/\/www.channelafrica.co.za\/channelafrica\/wp-json\/wp\/v2\/types\/news"}],"version-history":[{"count":1,"href":"https:\/\/www.channelafrica.co.za\/channelafrica\/wp-json\/wp\/v2\/news\/34769\/revisions"}],"predecessor-version":[{"id":34770,"href":"https:\/\/www.channelafrica.co.za\/channelafrica\/wp-json\/wp\/v2\/news\/34769\/revisions\/34770"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.channelafrica.co.za\/channelafrica\/wp-json\/wp\/v2\/media\/20970"}],"wp:attachment":[{"href":"https:\/\/www.channelafrica.co.za\/channelafrica\/wp-json\/wp\/v2\/media?parent=34769"}],"wp:term":[{"taxonomy":"news-type","embeddable":true,"href":"https:\/\/www.channelafrica.co.za\/channelafrica\/wp-json\/wp\/v2\/news-type?post=34769"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}