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Oil Prices Rise After Attack on Saudi Arabian Refinery Reignites Supply Concerns
The group said the attacks caused fires and explosions, while Saudi officials said missile interceptions damaged property and no direct refinery hit was confirmed.
- The Iran-aligned Houthis claimed ballistic missile strikes on Saudi Arabia's Ras Tanura oil refinery and the defence ministry in Riyadh on Tuesday, as explosions rocked the capital.
- These strikes follow weeks of escalating Houthi attacks against Saudi oil and civilian installations, including Riyadh's international airport, amid renewed fighting that has disrupted regional oil supplies since the Iran war began.
- Saudi Civil Defence reported shrapnel from two intercepted ballistic missiles caused material damage in Riyadh, while maritime security agency Vanguard confirmed a contained fire near the 550,000 barrel-per-day Ras Tanura refinery.
- Oil prices rose on Wednesday after the attack renewed concerns regarding risks to supply in the Middle East, with Brent crude futures increasing 1.3% as West Texas Intermediate crude rose 1.22%.
- Meanwhile, Mohammed Ali, a member of the Houthi political bureau, accused Egypt of effectively declaring war on Yemen, while The OPEC countries are expected to maintain steady output targets on Sunday.
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The Tehran-backed movement also claimed missile attacks on two fighter aircraft in the south of the kingdom. Saudi Arabia, the largest economy in the Middle East, suffered weeks of attacks by the Houthis, backed by Iran, against oil and civilian facilities, including the Riyadh International Airport. "Our armed forces attacked the Ministry of Defense in the Saudi enemy capital, Riyadh, with a ballistic missile, and the impact was direct," said Y…
·Issy-les-Moulineaux, France
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Coverage Details
Total News Sources54
Leaning Left8Leaning Right8Center9Last UpdatedBias Distribution36% Center
Bias Distribution
- 36% of the sources are Center
36% Center
L 32%
C 36%
R 32%
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