CNBC

Iran launched cruise missiles and drones at the United Arab Emirates on Monday, striking a petroleum facility in Fujairah and triggering air defense alerts in Dubai, in a major ceasefire violation. The US said two American-flagged merchant vessels transited the Strait of Hormuz under Navy escort as part of 'Project Freedom,' while Iran claimed it fired warning shots at US destroyers and hit a warship with missiles, a claim CENTCOM denied. Israel elevated its military alertness to the maximum level and convened its expanded security cabinet for Wednesday.