Brent Breaks $ 70 After Houthis Attack Saudi Arabian Oil Facilities


Oil tanks at an oil processing facility of Saudi Aramco, a Saudi Arabian state oil and gas company, in the Abqaiq oil field.

Stanislav Krasilnikov | TASS via Getty Images

International benchmark Brent crude futures soared during Asian trading hours on Monday, moving above $ 70 a barrel for the first time in more than a year.

The rise in oil prices came after Saudi Arabia said its oil facilities were hit by missiles and drones on Sunday. A spokesman for the Houthi army claimed responsibility for the attacks.

Brent rose 2.65% to trade at $ 71.20, while US crude futures rose 2.56% to $ 67.78.

Saudi Arabia’s energy ministry said an oil tank in one of the world’s largest oil shipping ports was attacked by a drone and a ballistic missile targeted Saudi Aramco facilities, according to the state-run SPA news agency. .

Such acts of sabotage are not only aimed at the Kingdom of Saudi Arabia, but also at the security and stability of the energy supply to the world and therefore to the global economy.

Saudi Arabian Ministry of Energy

spokesman

A spokesperson said none of the attacks caused injury or loss of life or property, but shrapnel from the intercepted missile fell near residential areas in Dhahran city, SPA reported.

“Such acts of sabotage not only target the Kingdom of Saudi Arabia, but also the security and stability of the world’s energy supply and therefore the global economy,” the ministry said through state media. “They affect the security of oil exports, the freedom of world trade and maritime traffic.”

Yahya Sare’e, a spokesman for the Yemeni Houthis, said he carried out a “comprehensive joint offensive operation” involving 14 drones and eight ballistic missiles.

He said on Twitter that other military sites were also hit with four drones and seven ballistic missiles, adding that “the impact was precise.”

“We promise the #Saudi Painful operations of the regime while it continues its aggression and blockade of our country, “he said in another post.

A Saudi-led coalition intervened in Yemen’s civil war in 2015 and has continued to fight the Houthis in what is seen as an indirect war with Iran.

The Houthis have reportedly stepped up attacks on Saudi Arabia in recent weeks.

The Biden administration said last month that it would remove Iranian-backed Houthi rebels in Yemen from the lists of specially designated foreign and global terrorist organizations, according to NBC News.

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