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Missile attack increased oil prices

by Bunkerist
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The Saudi state news agency said on Monday that Iran-linked Houthis were involved in the attack on the fuel tank at the oil products distribution station in Jeddah, Saudi Arabia.

Officials say the attack is not aimed at the kingdom’s national capabilities, but at the foundation of the global economy, its supply, and global energy security.

Saudi Aramco said that the local fuel supply was not affected by the attack and operations continued three hours after the incident.

Iranian Houthi forces said on Monday that Aramco carried out a missile attack on the North Jeddah Petroleum Facility, which was also confirmed by Saudi authorities.

One of the 13 tanks used for diesel, gasoline and jet fuel at the plant has been confirmed to be out of use. The scale and cost of the damage caused by the attack that took place at 03:50 Saudi time on Monday at the critical facility with a total storage capacity of 5.2 million barrels is still being evaluated. The facility distributes more than 120,000 barrels of products per day in the country to western Saudi regions such as Jeddah, Mecca and Al-Baha.

It was announced that the fire caused by the attack was extinguished in about 40 minutes without loss of life.

The International Energy Agency (IEA) said on Tuesday that following the attack by the Houthi group in Yemen on Saudi Arabia’s oil facilities, the global oil markets are uninterrupted and continue to be well-fed.

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