US and Iran Trade Fire in the Gulf, UAE Intercepts Missiles

Watch on YouTube ↗  |  May 05, 2026 at 16:58  |  2:05  |  Bloomberg Markets

Summary

Joumanna Bercetche reports on a flare-up of violence in the Persian Gulf, where the US and Iran exchanged fire and the UAE intercepted missiles. She notes the situation tests the four-week-old ceasefire and describes heightened alert and diplomatic efforts to de-escalate.

  • US and Iran exchanged fire in the Persian Gulf, testing the ceasefire.
  • UAE intercepted 15 missiles, including cruise and ballistic missiles, and four drones.
  • One drone caused significant damage at a Fujairah oil facility with three injuries.
  • Diplomatic channels are being worked, with GCC countries supporting the UAE.
  • The situation remains delicate, with the US response awaited.
  • The escalation follows Project Freedom launched by President Trump about 24 hours earlier.
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