The UAE oil price surge may continue into July after global crude spiked sharply following Israel’s recent airstrikes on Iran. Oil prices jumped as much as 7% in one day, and Brent crude rose over 13% last week.
Analysts now expect prices to rise further as markets respond to escalating conflict risks in the Middle East. For UAE residents, this likely means higher fuel prices in July.
A key area of concern is the Strait of Hormuz. This narrow waterway sees nearly 20 million barrels of oil pass through daily. It’s essential for Gulf oil exports, including from the UAE.
Even brief disruption in the strait could trigger a UAE oil price surge. Any delays or re-routing of tankers may push crude prices dramatically higher.
Analysts say Brent could soon reach $90 per barrel. If Iran responds militarily or if infrastructure is damaged, prices could hit $120 or more. Iran exports around 2 million barrels per day. If those exports stop, global supply would tighten fast.
The UAE oil price surge could strain family budgets as fuel, delivery, and transport costs rise across the country.
Rising global tensions leave UAE residents bracing for another sharp increase in petrol prices next month.
Experts urge consumers to monitor July’s fuel adjustments closely as market instability shows no sign of easing.
The UAE adjusts petrol prices monthly based on global oil trends. July’s prices will reflect current market volatility. A UAE oil price surge would affect household budgets, delivery services, ride-hailing fares, and even airline ticket costs.
Although markets hoped for calm after recent inflation control, the sudden rise in oil brings renewed uncertainty. UAE residents should prepare for the financial impact if tensions continue.
With energy security at stake, officials are closely monitoring global events. For now, all signs point to a UAE oil price surge just as summer spending peaks.
