Iran War News Live Updates: UAE says its air defence systems engaging with missiles, drone threats from Iran

The UAE Ministry of Defence confirmed on Friday that its air defence systems are engaging with missile and drone threats originating from Iran. The ministry stated that sounds heard across the country are due to ongoing interception operations targeting ballistic missiles, cruise missiles, and unmanned aerial vehicles (UAVs). The escalation follows a week of heightened tensions, including a U.S.-Iran exchange of fire on Thursday, which disrupted a month-long ceasefire. Iran claimed the situation had returned to normal, while the U.S. insisted it did not seek further escalation. Investors, however, reacted cautiously, with gold prices rising by 0.8% to $4,723.56 per ounce amid hopes for a potential U.S.-Iran peace deal, despite renewed hostilities. Oil prices surged approximately 1% on Friday, with Brent crude futures climbing to $101.26 per barrel and West Texas Intermediate (WTI) reaching $95.66. The gains followed three days of declines, as reports suggested the U.S. and Iran were nearing a peace agreement that would stabilize the Strait of Hormuz, a critical oil transit route. The recent fighting has now dashed those expectations, leaving markets uncertain. In Asia, mainland Chinese and Hong Kong stocks slipped as investors awaited next week’s meeting between leaders of the world’s two largest economies. The renewed conflict has also disrupted global supply chains, with Indian furniture manufacturers reporting higher costs for materials like foam, packaging, and lacquer due to war-related disruptions. The situation remains fluid, with the ceasefire under strain and economic repercussions spreading beyond the immediate conflict zones. The UAE’s defence response underscores the regional spillover effects of the U.S.-Iran standoff, while commodity markets and stock exchanges reflect growing investor anxiety over the stability of the Middle East.