Crude price rises for fear of shortage

Crude price rises for fear of shortage

A huge plume of black smoke was rising from the city on the Red Sea coast, where Formula One’s Saudi Arabian Grand Prix is ​​taking place this weekend, a witness said.

Unverified videos shared on social media showed a fire breaking out in oil tanks at an Aramco facility outside Jeddah.

There was no immediate comment from Aramco or the energy ministry when contacted by Reuters.

The attack pushed the price of oil back above $120 a barrel on fears of fuel shortages.

The Iran-aligned Houthi group, which has been fighting a Saudi-led coalition for seven years, launched missiles at Aramco facilities in Jeddah and drones at refineries in Ras Tanura and Rabigh, the Saudi military spokesman said. group. He added that they also targeted “vital facilities” in the capital Riyadh.

Saudi state media had previously reported that the coalition thwarted a series of drone and rocket attacks by the Houthis.

Houthi missile hits Aramco oil facility in Jeddah, Saudi Arabia.mp4

Saudi air defenses also intercepted and destroyed a ballistic rocket launched towards the port city of Jizan, which caused a “limited” fire at an electricity distribution plant, state media reported.

Saudi Arabia, the world’s biggest oil exporter, said this week it would not take responsibility for disruptions in crude supplies to global markets as a result of the Houthi attacks, which have intensified in the past three weeks.

Source: Ambito

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