Iran once again used the weekend as an opportune time to target industrial facilities — and also, a US tech firm, as it said it would earlier. Air defenses are still holding, but the knock-on effects are also still hitting infrastructure on the ground.

The latest target? Borouge’s petrochemicals plant in Al Ruwais, which was forced to suspend operations yesterday after fires broke out following falling debris, the Abu Dhabi Media Office said.

Borouge’s disruption lands at a sensitive moment. Just days before the incident, Adnoc’s investment at XRG and Austria’s OMV completed the creation of Borouge International, which combines Borouge, Borealis, and Nova Chemicals into a single USD 60 bn polyolefins platform.

Separate incidents saw debris strike the Oracle office building in Dubai Internet City and a separate building in Dubai Marina, with no injuries reported, according to Dubai Media Office on X here & here. The IRGC had said earlier in the week that it would target 18 US tech and defense firms — including Oracle — claiming that these corporations are actively enabling US and Israeli military targeting operations, pointing to defense contracts and data processing capabilities as justification for the strikes.

The Habshan gas facilities were also once again affected by falling debris from an intercepted projectile, resulting in the death of an Egyptian individual and injury of four others, Wam reports elsewhere.

Falling debris in Khor Fakkan Port resulted in four injuries last night, according to the Sharjah Media Bureau. Fire broke out at the port after debris hit the port following the interception of incoming attacks. The fire has since been contained and cooling operations are underway.

Hormuz traffic edges up, but remains under tight control

There are tentative signs of movements in the Strait of Hormuz, with a seven-day average of vessel traffic climbing to its highest level since the conflict began, Bloomberg reports. A total of 13 ships were tracked crossing since Friday morning, 10 outbound and three inbound.

There are early signs that some non-aligned players are testing the waters, quite literally. A French container ship and a Japanese-owned LNG tanker both made crossings, potentially the first of their kind since the conflict began, though it’s unclear whether this reflects state-level diplomacy or private arrangements.

And some are getting exemptions: Iran has moved to exempt Iraq from Hormuz shipping restrictions, in what could reopen a key supply channel if it holds, Bloomberg reports. On paper, the move could allow as much as 3 mn bpd of Iraqi crude to return to seaborne markets. In practice, it’s far from straightforward. Shipping companies still need to be willing to enter the strait, ins. constraints remain in play, and it is not yet clear how broadly the exemption applies, Bloomberg added, citing an Iraqi official.

The data: Iraqi exports collapsed by roughly 97% in March to around 99k barrels per day, with flows rerouted through the Turkey pipeline to Ceyhan as Gulf routes shut down.

Even with the exemption, restarting volumes will take time, and hinges on whether the risk calculus for shippers actually changes.

UAE carriers ramp up capacity

There are also early signs of recovery in aviation flows. Three UAE carriers — Emirates, Etihad Airways, and flydubai — have recorded their highest number of flights since the conflict began over the weekend, as operations gradually stabilize.

Emirates is leading the rebound, operating 384 flights to and from Dubai on 4 April, according to Flightradar24, followed by Etihad Airways with 212 flights, and flydubai with 151 flights.

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