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US Navy Intercepts Iranian Drone in Arabian Sea, Sparking Oil Market Volatility
Washington D.C., Tuesday, 3 February 2026.
On Tuesday, February 3, geopolitical risk premiums surged in energy markets after a US F-35C fighter jet shot down an Iranian drone threatening the USS Abraham Lincoln carrier group. This military escalation, compounded by reports of Iranian vessels harassing a US commercial tanker in the Strait of Hormuz, immediately drove oil futures up by over $1 per barrel. With critical nuclear negotiations tentatively scheduled for this Friday, these confrontations in vital transit corridors signal renewed instability that poses immediate risks to global supply chains and energy security.
