diff --git a/dist/jsenv_core.js b/dist/jsenv_core.js
index 6f8efaa10c..e6a417ddf1 100644
--- a/dist/jsenv_core.js
+++ b/dist/jsenv_core.js
@@ -17634,10 +17634,17 @@ const jsenvPluginInlineContentFetcher = () => {
       }
       let isDirectRequestToFile;
       if (urlInfo.context.request) {
-        const requestedUrl = new URL(
-          urlInfo.context.request.resource.slice(1),
-          urlInfo.context.rootDirectoryUrl,
-        ).href;
+        let requestResource = urlInfo.context.request.resource;
+        let requestedUrl;
+        if (requestResource.startsWith("/@fs/")) {
+          const fsRootRelativeUrl = requestResource.slice("/@fs/".length);
+          requestedUrl = `file:///${fsRootRelativeUrl}`;
+        } else {
+          requestedUrl = new URL(
+            requestResource.slice(1),
+            urlInfo.context.rootDirectoryUrl,
+          ).href;
+        }
         isDirectRequestToFile = requestedUrl === urlInfo.url;
       }
       /*
diff --git a/package.json b/package.json
index a5fc386e5a..76216b4da5 100644
--- a/package.json
+++ b/package.json
@@ -1,6 +1,6 @@
 {
   "name": "@jsenv/core",
-  "version": "39.9.0",
+  "version": "39.9.1",
   "description": "Tool to develop, test and build js projects",
   "license": "MIT",
   "author": {
diff --git a/src/plugins/reference_analysis/jsenv_plugin_reference_analysis.js b/src/plugins/reference_analysis/jsenv_plugin_reference_analysis.js
index cff81e8314..2ce3f86406 100644
--- a/src/plugins/reference_analysis/jsenv_plugin_reference_analysis.js
+++ b/src/plugins/reference_analysis/jsenv_plugin_reference_analysis.js
@@ -43,10 +43,17 @@ const jsenvPluginInlineContentFetcher = () => {
       }
       let isDirectRequestToFile;
       if (urlInfo.context.request) {
-        const requestedUrl = new URL(
-          urlInfo.context.request.resource.slice(1),
-          urlInfo.context.rootDirectoryUrl,
-        ).href;
+        let requestResource = urlInfo.context.request.resource;
+        let requestedUrl;
+        if (requestResource.startsWith("/@fs/")) {
+          const fsRootRelativeUrl = requestResource.slice("/@fs/".length);
+          requestedUrl = `file:///${fsRootRelativeUrl}`;
+        } else {
+          requestedUrl = new URL(
+            requestResource.slice(1),
+            urlInfo.context.rootDirectoryUrl,
+          ).href;
+        }
         isDirectRequestToFile = requestedUrl === urlInfo.url;
       }
       /*