By: Suhaib Shams
Global oil prices rose significantly in market trading following attacks on vital facilities belonging to the Saudi company Aramco in the south of the Kingdom. These attacks led to fires and a temporary halt in some operational activities, as well as injuries, causing markets to react immediately to the security developments in the region.
Official Saudi authorities announced that attacks targeted energy facilities in the southern region of the Kingdom, resulting in fires and injuries to several people. Reports indicated that fire and emergency teams moved urgently to the sites of the incidents to contain the fires and assess the damage, while the relevant authorities continue to secure the affected sites.
Details of the attacks on oil facilities
According to official data and field reports, the attacks targeted Aramco facilities in the cities of Jazan, Abha, and Najran, in addition to other locations in the southern region. Drones and missile weapons were used in these operations, which led to temporary impacts on the workflow at some of the Saudi oil giant's facilities.
In the same context, the Coalition to Support Legitimacy in Yemen indicated that the targeted cities are located near the Yemeni border, explaining that the attacks affected areas surrounding vital sites and resulted in civilian injuries.
Global oil market reaction
Following the announcement of the attacks and their impact on operational activities, financial markets witnessed a rapid reaction represented by a rise in crude oil prices. The benchmark Brent crude price rose in futures trading to reach about 98 dollars per barrel, recording a notable increase, while US crude recorded clear gains, reaching about 93.65 dollars per barrel.
These developments come at a time when global markets are anticipating any updates regarding the stability of energy supplies, as the relevant authorities continue to assess the volume of actual damage and its potential repercussions on shipping and production in the region.
