gulfinstitute
Saudi Arabia’s world’s most protected oil infrastructure was attacked by missiles and drone. The attacks on Sunday were blocked, and the oil yield remained unaffected, said Saudi Arabia.
However, the attacks claimed by Iran-backed Houthi rebels surged oil prices up to $70 per barrel since January 2020.
On March 7, the Saudi Energy Ministry said that an oil storage tank farm at the Ras Tanura export terminal on the Persian Gulf coast was attacked by a drone from the sea. Missile shrapnel also landed near the residential area for employees of the national oil company Saudi Aramco in Dhahran.
Brent crude prices rose by 2.9% to $71.37 a barrel on Monday, March 8.
The attack was one of the most alarming attacks after September 2019, after which oil production was shut down for a month.