The UAE says early warning on missile was a 'technical malfunction'

The oil market briefly jumped earlier when the UAE sent out this message to resident cell phones.

That was amplified by a report of explosions -- untrue -- in Iran's media.

The alert was withdrawn just 2 minutes after it was issued and now it all appears to have been some kind of technical mistake. The officials are calling it a "technical malfunction" but it seems near-impossible to me that a human wouldn't have been in the loop somewhere or that it was some kind of test that went wrong.

In any case, oil quickly rose $1 on it but the market sorted it out fairly quickly.

This article was written by Adam Button at investinglive.com.