I just saw that Abu Dhabi's energy infrastructure was attacked again. This time, the large petrochemical plant in Ruwais was shut down, and last month, a refinery was also forced to close. Since the conflict escalated at the end of February, key facilities in the UAE have been taking turns being targeted, and this is not the first time.

According to the Abu Dhabi government media office, this incident was caused by debris from intercepted missiles triggering multiple fires. The good news is that there were no casualties, but the issue is that this plant produces polyethylene and polypropylene, operated by Borouge, which significantly impacts local chemical and refining operations.

More critically, Abu Dhabi National Oil Company has been working to turn Ruwais into a global hub for chemicals and natural gas trading, but that plan has now been disrupted. Last week, the natural gas processing facility in Habshan was also attacked and shut down. Can you feel this rhythm? Important facilities are being forced offline every so often.

This is no small matter for the energy markets. Abu Dhabi’s energy exports are the backbone of its economy, and these repeated disruptions will exert ongoing pressure on the global energy supply chain in the long run. It looks like this round of conflict won't be calming down anytime soon.