JIZAN REFINERY HIT AGAIN AS OIL JUMPS TO 97 DOLLARS
Saudi Aramco’s massive Jizan refinery has been struck in a fresh attack, the second in just over a month. The facility, which processes 400,000 barrels of crude per day near the Yemeni border, was hit on Monday.
The Financial Times, citing two sources, reported the strike. The damage is currently being assessed, but one source said the scale was similar to the July 27 attack that knocked the refinery offline. Another source told the FT the refinery could be out of commission for weeks.
The Houthis have not claimed responsibility for Monday’s attack. But the group has been escalating its campaign against Saudi energy infrastructure. In July, the Houthis declared a blockade on Saudi Red Sea ports. They have launched ground offensives along Yemen’s coast, apparently seeking to advance toward the Bab el-Mandeb Strait.
Oil markets reacted instantly. Brent crude jumped 62 cents to 97.38 dollars a barrel. WTI rose to 92.19 dollars. The attacks have already stopped refined product shipments from Jizan, with zero diesel exports recorded in August.
The Houthis say their strikes are in response to Saudi drones entering Yemeni airspace. The Saudis say they are defending their borders. Yemen’s civil war is now a regional energy war.
How many more strikes before Saudi Arabia’s oil infrastructure becomes a permanent battlefield.