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Charles Kennedy

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Oil Rises As Videos Emerge Of Attack On Saudi Oil Facility

Unconfirmed reports on Twitter suggest that Houthi rebels launching a barrage of missiles on Saudi Arabia Friday morning have hit a Saudi Aramco oil facility in Jeddah. 

This unconfirmed report was posted on Twitter at 10:54am EST Friday, with oil prices immediately responding upwards, though no official confirmation had come in from Saudi officials. 

By 11:30am EST, news reports were only indicating a missile strike at a Saudi electricity facility, which officials said had caused a small fire that was being contained. 

The National reported that six drone missiles were fired by the Houthis in the early hours of Friday, while three others were intercepted.  

“The hostile attempts deliberately target civilian infrastructure and energy installations, and the continuation of the Houthis’ hostilities threatens regional and international security,” the Saudi-led coalition in Yemen said.

Houthi forces in Yemen have claimed responsibility for the attacks.

The Saudi Gazette cited Arab coalition forces in Yemen as saying that they had intercepted “ten booby-trapped drones” fired towards Saudi Arabia. 

The Saudi Press Agency, the official news sources, did not confirm that Saudi Aramco facilities had been directly hit or severely damaged. 

The agency carried a statement of support from Bahrain, strongly condemning the “cowardly terrorist act targeting the lives of civilians, civilian objects and energy sources in the Kingdom of Saudi Arabia.” 

As of the time of writing at 11:45am EST, oil prices were responding upwards, with Brent at $120.3 and WTI at $113.6.

By Charles Kennedy for Oilprice.com

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