Saudi Arabia said one of the most protected crude facilities in the world came under missile attack on Sunday, in a clear escalation of hostilities that sent oil prices surging.
The drone and missile attacks were intercepted and crude production appeared to be unaffected. But the latest in a spate of assaults claimed by Iran-backed Houthi rebels sent oil prices above $70.
The attacks are the most serious against Saudi oil installations since a key processing facility and two oil fields came under fire in September 2019, cutting oil production for several days and exposing the vulnerability of the Saudi petroleum industry. That was claimed by Yemen’s Houthi rebels, although Riyadh pointed the finger at arch-rival Iran.
On Sunday, the Saudi Energy Ministry said a storage tank in the Ras Tanura export terminal in the country’s Gulf coast was attacked by a drone from the sea. Shrapnel from a missile also landed near a residential compound for employees of national oil company Saudi Aramco in Dhahran. Witnesses reported an explosion rocking the city, and windows shaking.
“Both attacks did not results in any injury or loss of life or property,” said a spokesman for the Saudi Energy Ministry. A person familiar with the situation also said oil output was unaffected.
Massive Facility
Ras Tanura is the world’s largest oil terminal, capable of exporting roughly 6.5 million barrels a day — nearly 7% of oil demand — and as such one of the world’s most protected installations. The port includes a large storage tank farm where crude is kept before it’s pumped into super-tankers.
