BY Bunmi Aduloju
Saudi Aramco storage facility has been hit by an attack in Jeddah, Saudi Arabia.
According to Reuters, a string of drone and rocket attacks by Yemen’s Iran-backed Houthi movement and a huge plume of black smoke was seen rising in Jeddah in videos circulating online on Friday.
Yemen’s Houthi group said they would be issuing a statement on a big military operation “deep in Saudi Arabia”.
Yahya Sarea, Houthi military spokesperson, said the group attacked Aramco’s facilities with missiles and the Ras Tanura and Rabigh refineries with drones.
Sarea added that the attack also targeted vital facilities in the Saudi capital Riyadh.
State-owned Al Arabiya television reported Saudi-coalition announced the fire was brought under control in two tanks in Aramco’s oil facility, and that there were no casualties.
Following the attack, Brent crude futures surged 0.13 percent to $119.2 a barrel, while West Texas Intermediate rose 0.27 percent to $112.6 a barrel.
Saudi Arabia is a major oil producer and such disruptions to production would further heighten undersupply fears amid the recent ban on Russian oil.
“The market, which was already shunning Russian oil supplies, has another thing to worry about with Houthi attacks potentially impacting Saudi Arabia’s production,” Andrew Lipow, president of Lipow Oil Associates said.
Saudi Arabia had said it would not be responsible for disruptions in global oil supply amid the recent attacks on its facilities.
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